I am curious about the Internet of Things, smart devices and wearables.

I love the potential behavioural shifts and benefits they can bring to the world.

I am fascinated by the engineers’ ability to design and deliver really cool solutions, and new market propositions enabled by these great new things across industries, including insurance.

However, it appears that today's connected devices have massive security weaknesses resulting in undesirable breaches and pains; many of which, we do not even understand just yet how much they could impact our every day lives.

These issues need to be addressed pretty quickly though.

Indeed, if the security of the smart devices that are currently coming to market is not tackled seriously, these devices will end up posing problems to our homes, workplaces, and the other systems we use on a daily basis, explains Stacey Higginbotham in the article below.

These problems pretty much entail opening our doors to cyber criminals and enabling them to:

  • spy on us, and turn us into victims of their unexpected cyber attacks,
  • gain control of each of our devices, and
  • take over key sets of information straight from these devices.

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These threats are real and present whenever we are connected to the Internet.

We are all learning about what this means right now, and as highlighted by the presenters of Tuesday’s London FinTech Week’s session on “Cyber Risk & Innovation: Friends or Foes?”, it is clear that device manufacturers, among others, need to step up really fast to the pate, and cyber security solution providers help them do so in the best way possible.