Internet of Things for Home and Industry

References

Internet of Things: Aligning the Ecosystem towards Sustainable AdoptionGuiding question: How can a functioning global Internet of Things (IoT) ecosystem be built so as to harness the benefits of sustainable development? Context: The Internet of Things has a crucial role to play in the digital transformation of industries, which are at the core of such technological trends as cloud computing, big data, artificial intelligence, and robotics. The wider societal implications are also significant and there is an enormous potential for IoT to deliver social value as part of commercially viable strategies.To maximize the potential value that IoT can bring to industries and to the broader society, all stakeholders involved in this fast-changing and complex ecosystem would need to address challenges related to architecture, security, governance, business models and other issues related to the diffusion of connected computing devices.To address these challenges, the Forum’s Internet of Things: Sustainable Models for Impact has been focusing on the following deliverables: A framework for a preliminary evaluation of the impact of IoT projects across sustainable development areas, which can be found here: https://wef.ch/IoT4D A set of IoT Guidelines for Sustainability that provide recommendations related to cooperation, investment and business models, and impact measurement to encourage the prioritization of sustainability goals within commercial strategies. A discussion paper in collaboration with MIT, which maps out the key components of a healthy IOT ecosystem. This paper will be published in early 2018

Market Incentives for Secure Industrial IoTThe ChallengeIndustrial IoT is expected to transform manufacturing, energy, agriculture, transportation and other industrial sectors of the economy which, together, account for nearly two-thirds of the global gross domestic product. Unfortunately many of these companies are unprepared for the potential risk and liability that may be brought on by these new technologies, including new threats to public safety, physical harm, and catastrophic systemic attacks on shared public infrastructure. As today’s economy continues to prioritize time-to-market and the profitability of solutions over security, the threat of serious physical, financial and institutional harm grows. Moreover, cybersecurity poses a unique challenge for government regulation of businesses as the process for certifying and enforcing good security practices can be too labor-intensive and costly for governments to address on their own.The OpportunityMarket forces could play a critical role in helping establish and catalyze new norms and best practices for the security of industrial IoT devices and systems. Lower insurance premiums, for example, prompted millions of business and consumers to install fire and security systems. Similiarly, good driver discount programs have created tangible financial incentives for safer and more careful behavior. Though this project, the same incentive structure—tying minimum safety standards and practices to the sale and pricing of insurance policies—will be applied to industrial IoT deployments. In parallel, this approach will also be applied to government stimulus funding and financing programs for industry. Lastly, self-certification could also help foster greater adoption of security measures. Companies that self-certify have the opportunity to stand out in an increasingly competitive industrial IoT marketplace. ImpactOver the course of the last year, more than two dozen companies, governments, organizations and universities have collaborated with the Centre to co-design the Industrial IoT Safety and Security Protocol. This first-of-its-kind policy framework generates an understanding of how insurance can facilitate the improvement of industrial IoT security design, implementation and maintenance practices. It also sets forth a universal set of security best practices that should be incorporated in all industrial IoT deployments. The next step of this project is to pilot these incentive structures with insurance companies, governments and private sector stakeholders, refine the underlying operating models, and then share these outcomes to scale-up adoption internationally and across sectors.

Report abuse