Our society is increasingly reliant on smart devices and services, from home automation to manufacturing, medicine, finance and transport. These billions of inter-connected devices, reachable almost instantaneously through the ubiquitous Internet from any location and any other device in the world, are collectively called the Internet of Things (IoT). All too often, “reachable” means reachable by unauthorized entities as well as intended users. Consequently, we have become very exposed to a plethora of new IoT security-related threats that never existed before, some of which have the potential to impact profoundly on our way of life.
The economic damage of security attacks could be consequential. Attacks can potentially cost an OEM lost business, damaged reputation, product recalls and even legal fees.