Approach IoT With Security in Mind, Says AT&T Chairman

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Approach IoT With Security in Mind, Says AT&T Chairman

By CircleID Reporter
February 25, 2016, 1:23 am PST Views: 5,948 Add Comment

By 2020, some 50 billion devices are expected to connect to the Internet and the economic value created by IoT could be worth as much as $11.1 trillion—roughly 11% of the global economy by 2025, according to a new report released by AT&T. “The annual estimated average financial loss, per cybersecurity incident in 2014 was $2.7 million. That’s 34% higher than a year earlier. Our experts have seen a 458% increase in the number of times attackers scanned IoT devices for vulnerabilities over the past 2 years. The security of these new connected devices is essential.”

“The Internet of Things is advancing the future of business, bringing new capabilities and efficiencies to companies to help them stay ahead. However, it is essential to approach IoT with security in mind in order to effectively protect your business,” said Ralph de la Vega, vice chairman of AT&T Inc. and CEO of Business Solutions & International.

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