IoT Challenges for CIOs

Internet of Things (IoT) Challenges for CIOs

The Internet of Things (IoT) is more than internet enabled sensors and analytics. Now the question is what happens once these tools are a part of products sold and used by the general public. The implications are, potentially, huge.

Internet of Things (IoT) ChallengesSecurity, privacy and inter-device compatibility are issues that CIOs are concerned about. There is a very good chance that the device can be remotely controlled, monitored, updated and maintained using remote management tools, sensors and predictive analytics that continually collect device data that can identify problems before they happen.

n a recent study that Janco conducted findings showed that over 2/3rds of the concerns that CIOs, CFOs, and CEOs were concerned about data security, information privacy and compliance requirements.   That on top of the potential for liability when IoTs are out in the public environment and they fail is a major issue that needs to be addressed. Granted most of these devices are not critical in life or death situations.  However, there can be property loss when a device fails, does not have the current BIOS or software, or is used in an inappropriate manner. In addition the implications on data storage in order to meet the mandated records management requirements have not been understood to their fullest.

The importance of having good policies in place can not be stressed enough.  Everything from data privacy to change control needs to be considered as IoT becomes the next wave of innovation.

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Author: Victor Janulaitis

M. Victor Janulaitis is the CEO of Janco Associates. He has taught at the USC Graduate School of Business, been a guest lecturer at the UCLA's Anderson School of Business, a Graduate School at Harvard University, and several other universities in various programs.