Julian Lee and John Gallagher, VP at Viakoo discussed the IoT market and its security challenges. They highlighted the vulnerability of IoT devices to DDoS attacks and ransomware, citing examples such as the MGM and Caesar’s Palace incidents.

John shared the insights from a survey on IoT security conducted with 150 IT leaders in North American companies. The survey findings revealed that while most companies acknowledge having IoT security issues, there is dissatisfaction with the current approach, with many expressing regret about their initial strategy. The results also indicated a significant increase in spending and staffing for IoT security, with board-level attention and a focus on technology improvements, such as application-based discovery to augment network-based discovery.

Julian and John Gallagher led a discussion on the significance of survey data in the cybersecurity landscape, emphasizing the need for benchmarking and tracking trends over time to inform decision-making. They also discussed the intricacies of IoT security and device management, underscoring the critical need for organizations to focus on the security of IoT devices, especially those that are mission critical. Additionally, they touched upon the evolving landscape of cybersecurity threats and the implications of AI advancements.