The Power of IoB: Understanding the Risks

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The Internet of Behaviors (IoB) has the potential to change the way companies market their products and services to target customers. As it continues to evolve, the IoB will become a more integral part of a company’s sales process and will have a strong influence on a buyer’s decision. The benefits of IoB are clear, but like all emerging technology, is not without its risks.

Consider Cybersecurity

Our world is connected like no other time in history. Whether we are using a computer, our phone, or a wearable device, we have the ability to instantly connect with the outside world. Though convenient, this level of connectivity brings with it unprecedented security concerns. Cybercriminals can access, collect, and sell sensitive data which might help reveal customer buying patterns.

Hackers are able to manipulate the data gleaned from IoB to better impersonate customers. Cybercriminals are able to more fully integrate into the minds and worlds of customers. They are able to more easily attain passwords, bank codes, and other sensitive information because this data is easily and quickly shared through IoT. The scammers then use that data to commit fraud such as phishing and other cyberattacks.

Keeping Privacy in Check

Savvy companies have been selling (or what they refer to as “sharing”) our information with subsidiaries or across company lines in an effort to better understand our buying behaviors. Large companies, like Amazon and Google, develop software and complex logarithms to further measure consumer behavior with the hope of capitalizing on this knowledge. Consumers are not always aware this is happening, so this creates a gray area as it relates to privacy and security.

Device Sabotage is Possible

Having the ability to connect our behavior with our everyday devices is amazing. New and emerging technologies allow us to track fitness progress, systems in our cars, health and wellness factors, and more through apps and other programs. These connected devices are subject to dishonest infiltration, just as computers and phones are. Cybercriminals are not shying away from cars, wearables, and other connected devices when it comes to sabotage.

Though it is not very common at this point, wearables and automobiles could be manipulated and directed to malfunction. Once a hacker is familiar enough with a system and can mimic the actions and behavior of the device owner, they will have the dangerous knowledge and ability to impact IoB.

Keeping IoB Risks in Check

As IoB continues to grow and evolve, how do we keep privacy and security concerns at bay? Companies and consumers certainly have a lot to consider with IoB as the IoB’s impact on a customer’s decision- making process cannot be overstated. It is important, however, to keep the technology’s power and implications in perspective.

A technology managed services provider can help businesses get a better understanding of how best to harness the power of IoB and realize competitive advantages. Partnering with an MSP can clarify questions around data privacy and collection and help a company advance its IoB strategy. For more information on the IoB and its impact on customers and businesses, call AJTC at 708.942.8200. You may also contact AJTC here or learn more at www.ajtc.net.

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