Technological progress has taken a boom with the internet’s invention. Gradually, heavy mobile phones have been replaced by smartphones, e-libraries have taken the place of conventional libraries, big computers have been turned into lightweight gadgets, and the use of tech gadgets is growing day by day. There was no smartphone concept back then, and we’re talking about smart homes nowadays! This all became possible because of the rapid developments in technology.
In previous years the word “cybersecurity” – security of hardware, software, or electronic data was not so widely used. The cybersecurity did not concern most common people. The Internet had been restricted to tech hubs and techies. Time passed on, using smartphones, connecting to Wi-Fi, and the internet in daily life made our lives much more comfortable, but cyber attacks also increased. At that time, people became concerned with protecting their devices and information online and took security measures such as using a VPN service.
Smart homes are the latest in tech nowadays that everybody can use. Using artificial intelligence and machine learning in smart homes will make people’s lives more comfortable and convenient as never before, but the point to remember is that all devices are internet-connected! Now, it’s not just about phones and computers, but hackers can track the activities of residents and sensitive data from those devices. Listed below are the reasons why cybersecurity is required in smart homes.
The Explosion of the Internet of Things (IoT)
Smart devices are not just about smart lights and burglar alarms. The explosion of internet stuff has made it possible to detect baby movements, monitor elders with the help of smart devices, utilization of the home security camera to lock doors, and much more. Such technical developments seem amazing to our home-until they’re hacked. Hacking those devices means completely taking control of the house.
Vulnerability of Wi-Fi
IoT is operating on the Internet, and those things are linked to Wi-Fi. Wi-Fi hacking is not a new story. Cybercriminals are readily experienced in hacking Wi-Fi links. Hacking these internet spots means getting access to all the smart devices that work on it.
In the past, cybercrimes have affected significant corporations.
Everybody is aware that giant corporations are investing a stupendous fortune shielding their data from hackers. Statistics, however, indicate that even in the past, they have been victims of cyberattacks, and the consequences have involved significant recovery costs. Listed below are few case studies to make clear that cybersecurity is essential.
- Facebook: On the Amazon cloud server, hundreds of millions of the world’s most comprehensive social network usage accounts have been publicly revealed. It leaked data from over 540 million users!
- First American Corporation: It exposed 885 million records. These records included sensitive information, including bank account information, social security numbers, wire transactions, and paperwork on mortgages.
- Yahoo: After a data breach of its three billion customer accounts, the said name gradually faded away. Lots of costs were spent on recovering, but reputational damage was not recovered.
Cyber attacks hurt users and wreck the reputation of the company. For all things that work with the help of the internet, cybersecurity is necessary.
Statistics of Cyber Attacks
The statistics regarding cyber-attacks are alarming. There’s no doubt that the ratio will also rise with smart home attacks if smart appliance designers and developers don’t take proper parameters. According to CNBC, in 2017, cybercrime ‘pandemic’ could have cost the world $600bn. The numbers have risen every year so far. The estimated expense for reputed companies to recover from cyber attacks is $5 million. This figure relates to large corporations. The small businesses can’t bear the loss and wipe out shortly.
Smart homeowners must do security planning, along with financial planning. Modern consumers need to be aware of the level offered by cybersecurity companies or IoT developers. Owners should take an inventory of all the different network-connected devices inside your home and know them. Apply security updates on all smart devices and home computers. Make sure all your passwords are safe and back up with confidential details. In this way, you should work with companies as well.
Cybercrime is now a commercialized market, and the hackers have access to new hacking devices with technical advances. Unfortunately, developers behind new network-connected hardware are not thinking a great deal about security. Cybersecurity is hugely inadequate on many IoT devices. It has now become a significant concern for companies, as people are fully aware of severe repercussions. Now, taking preventive measures is more critical than ever because lagging cybersecurity measures can result in enormous losses.