"Internet of Things Financial Sustainability Depends on Quality and Security"
Technology phrases such as "data mining," "cryptocurrency," and "influencer" have become increasingly common. Internet of Things (IoT) devices should be included in the list. The phrase refers to physical objects that link to and exchange data with other devices/systems via communication networks. Assistant professor of analytics at the University of Kansas Anurag Garg stated that IoT is pervasive. Even before this phrase was coined, a growing number of items were getting connected to the Internet, with the idea behind IoT being to connect items not meant to be connected to the Internet, such as a coffeemaker. The primary purpose of IoT is to provide consumers with new services. According to Garg's new article titled "Financial sustainability of IoT platforms: The role of quality and security," despite the growth of platforms such as Amazon Alexa and Google Home, customers do not regard them as valuable unless they experience appropriate levels of quality and security. The research explores the financial viability of platform providers, such as Amazon's Alexa, and app developers, concluding that collaboration between these two parties has a substantial impact on the profitability of all parties. Garg, who co-authored the article with Emre Demirezen, Kutsal Dogan, and Hsing Kenneth Cheng of the University of Florida, estimates that IoT investment will reach $1,100 billion by 2023. Globally, more than 10 billion IoT devices are in operation, which is expected to surpass 25 billion by 2030. Nonetheless, quality and security remain the primary drivers of client acceptability. Garg stated that the iPhone's security requirements are well-implemented, making it difficult to hack, but these IoT devices are often hacked using various approaches. Researchers recently discovered a technique to hack Alexa and other digital home assistants by directing a laser light at the device. These devices' microphones respond to the light and emit electrical signals as if they had received authentic audio commands. Garg notes that US history's largest Distributed Denial-of-Service (DDoS) attack occurred in 2016, when a significant portion of the Internet was taken offline. This occurred as a result of security flaws in IoT devices. This article continues to discuss IoT devices' financial sustainability depending on security and quality.