2/3/2017 3:09:42 PM | less than a minute read

IoT, Security and Profitability

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Mike Daly

Digital Claims Transformation, Insurtech, Analytics

Get in touch

Mike Daly

Digital Claims Transformation, Insurtech, Analytics

Enterprises that unlock the value of data from IoT stand to establish strong competitive differentiation. To make money though will require a rigorous analysis of the marginal costs v marginal revenue of any IoT project.

Security is one significant cost.

That needs to be costed over the long term as well- the costs of maintaining the connectivity and integrity of every connected device.

There is a treasure trove of insight to be gained from the IoT but sorting the wheat from the chaff is essential.

This is not the case with distributed denial of service attacks coming from botnets made up of compromised IoT devices. On October 21st, 2016, the Mirai botnet consisting of IoT devices executed what is being called the Dyn DDoS attack on the Dyn DNS provider, knocking over 60 high-profile internet platforms offline including Netflix, Amazon, PayPal, CNN, Twitter, Reddit, Spotify and Yelp. This wasn’t the Mirai botnet’s first or last high-profile attack, but it demanded the attention of the general public in a way DDoS attacks typically don’t.

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