Will The IoT Revolution Spell Doom And Destruction?

The world is always at the brink of doom and destruction, at least that’s what the World Economic Forum’s yearly Global Risk Report wants us to believe. For 2015, one among the prime contenders that could initiate the onset of the End of Days is “large-scale cyber attacks”, which ranks alongside water crises, unemployment and interstate conflict.

Global Risk Perception : IoT Is In!
Global Risk Perception : IoT Is In!

 
Last year, we already got to witness how crippling cyber attacks, such as the one carried out against Sony Entertainment can be. In 2015, they’re only going to get more sophisticated reads the 10th Global Risk Report, partly due to the increasing number of physical objects being connected to the Internet, and rise of sensitive data being stored on the cloud.
Global Technological Risk
The Internet of Things (IoT) revolution, for which many of us are eagerly awaiting, is pretty much the biggest thing to blame for this. The World Economic Forum argues that there is a need for a new approach to global internet governance and cooperation. This should make sure that all devices connected to the Internet can talk to each other, while also addressing issues of cyber crime, net neutrality, privacy and freedom of expression.
As the IoT grows in complexity, devices will begin to handle tasks that open the door to greater physical destruction than we’ve ever seen. “Hacking the location data on a car is merely an invasion of privacy, whereas hacking the control system of a car would be a threat to life,” says the report.
Security experts have already shown that they can hack some of the most advanced bits of kit, such as Tesla’s Model S. While their current exploits are only limited to controlling things such as the satnav and windscreen wipers, they’re confident about being able to take charge of a vehicle’s steering and brakes pretty soon.
Global Risk Perception
The World Economic Forum suggests that the IoT revolution has huge potential to power economic growth and change the lives of people, however, a lot of thinking has to be done by industry and state leaders before it can be implemented at a massive scale.
The elephant in the room is that the current Internet infrastructure wasn’t built keeping such security concerns in mind.
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