The Internet of Things (IoT) provides amazing possibilities for product development and is accelerating innovation at perhaps the fastest rate in history. Things that were nearly unheard of just a few years ago — tracking wellness on your watch or phone, a refrigerator that orders your groceries for you, payment from your phone with biometrics, and even mobile driver’s licenses are all now reality.
Building cybersecurity into connected products is a critical component needed to unlock the vast potential of IoT innovation. If done well, it empowers companies to successfully implement their business strategy, mitigate risks, protect their brand reputation, create product differentiation, and establish market leadership.
According to global research and advisory company, Gartner, 20.4 billion connected “things” will be in use by 2020. However, while manufacturers are eager to go to market with IoT products, building security measures into these devices often remains an afterthought. Interconnected technology is inherently linked with cyberthreats used by attackers who manipulate software vulnerabilities and weak links in ecosystems. As these threats continue to rise, companies must build cybersecurity into their organization, processes and product development life cycle, including updates and end-of-life after successful launch. Otherwise they risk being bypassed by competitors or, worse yet, may find themselves the center of the next breach.
We help innovators create safer, more secure products and technologies to enable their safe adoption by guiding them through the growing complexities across the supply chain.
We’ve seen wide industry acceptance of its cybersecurity solutions and standards. Recent achievements include recognition from the U.S. Food and Drug Administration (FDA) for UL’s cybersecurity Standard for testing of medical devices, designation as an Amazon-approved lab to perform security assessments for Alexa-enabled devices, standardizing the mobile driver’s license globally, and authorization as an approved cybersecurity provider for the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Global clients utilizing UL’s cybersecurity services include Visa, Mastercard, Eaton, Johnson Controls, and ICU Medical, among many others.
While there is no silver bullet for solving IoT cybersecurity challenges, companies must begin to understand and address cybersecurity risks. This enables them to continue innovating and tackling an increasingly complex world of product and system interconnectivity with greater confidence.