| | October 20169CIOReviewunsettling is the fact that anyone can buy this expertise from discussion forums on the Internet. The IoT is bringing in a paradigm shift in the way we interact with the world around us. Market estimates suggest that in 2017 more than 5 billion devices will be interconnected (Estimates by Gartner). By the next decade this number is expected to reach 30 billion. What does the IoT mean to cybersecurity? Well, it adds a whole new dimension to the frontiers of security risks. The list of devices it connects is expanding with every passing day--from automobiles to thermostats and from mood lights to production plants--the avenues for connecting devices continue to expand. This interconnectivity also exposes hitherto secure entities to cyberattacks via the burgeoning mesh of mobile phones, sensor networks and services on the cloud. Cloud computing has emerged as the cornerstone that supports IoT, Big Data, and newer ideas for collaboration. The demand for cloud computing is driven by the almost unquenchable user thirst for round-the-clock access to data. While the trend for cloud computing is on the rise, service providers will be questioned about the resilience of their security architectures in the face of sophisticated cyberattacks. Users' trust in cloud-based services will strengthened only when the solutions are secure. In the near future, discussions about making both public and private cloud computing services secure to protect digital assets will only mature.IT security systems employed traditionally are ill-equipped to deal with the sophisticated attacks in cyberspace. In order to ward off cyber attacks, organizations will have to invest more in information security- the escalation of cyber threats and rising levels of regulatory requirements warrant the rise in IT security budgets. They also need to collaborate with external experts to improve both cyber threat intelligence and enhance security. Moreover, organizations have to internalize effective governance systems for information security systems and mold their processes and tools to `safely' navigate the digital future. Cybersecurity is a business risk that organizations can ill-afford to ignore. The stakes are too high. It is time organizations judiciously appreciate the strategic value of mature security programs and invest in cybersecurity to safeguard their businesses. Organizations have to internalize effective governance systems for information security systems and mold their processes and tools to `safely' navigate the digital future
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