KBQuest CEO Eric Moy sharing insights into IoT at the Smart Identity, Smart Hong Kong Symposium
Joining the other four leading technology companies in HK to exchange ideas about personal identity in the digital age last Monday, KBQuest CEO Eric Moy shared his insights into how IoT can benefit human beings, but at the same time, what possible mess IoT can create.
Due to the advances in IoT technologies in recent few years, adoption of IoT keeps soaring and is expected a continuous growth in coming years. From a global point of view, an estimated 127 new devices are connected to the Internet every second, which is an impressive number to both the consumer and enterprise market. According to predictions from Gartner, the number of IoT sensors and investment in IoT solutions will keep surging.
“With the proper safety and compliance clearance, there are real cases showing us IoT can improve our lives.” Eric shared three IoT cases exampling how people can benefit from this technology in healthcare and urban planning. Following the positive side, Eric also stated three notorious global IoT attacks illustrating data breach isn’t the only possible risk IoT can bring us, fragile IoT system can also threaten people’s lives. “It is predicted by 2020, more than 25% of cyberattacks in enterprises will involve IoT…however, less than 10% of IT security budgets will be accounted for this aspect.”
Wrapping up his sharing on future and risks of IoT, Eric mentioned how the two global technology leaders, Microsoft and Amazon, address the security issue in IoT with different approaches. “While IoT has become one of the mainstreams to transform businesses digitally, we need to pay real attention to security for IoT success. ”
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