Increased security threats and data privacy issues considered the biggest challenges around connected devices
Rolling Meadows, IL, USA (12 November 2014)—New research from global IT association ISACA found that half of Asia-Pacific IT departments or workplaces need to prepare for the invasion of wearable technology. According to the 110-country survey of ISACA members, 55% of Asia-Pacific members say their organization has plans now in place to leverage the Internet of Things or expects to create plans in the next 12 months, but the almost half are not ready for wearable technology. Nearly half (48%) say their “bring your own device” (BYOD) policy does not address wearables, and a further 28% do not even have a BYOD policy in place.
ISACA’s IT Risk/Reward Barometer examines attitudes and behaviors related to the risks and rewards of key technology trends, including the Internet of Things, Big Data and BYOD. The 2014 Barometer consists of two components: a survey of 1,646 ISACA members who are IT and business professionals around the world, including 279 in the Asia-Pacific region, and a survey of more than 4,000 consumers in four countries: USA, UK, India and Australia.
The Barometer found that nearly half of ISACA members in the Asia-Pacific region believe the benefit of the Internet of Things outweighs the risk for individuals (48%), while nearly a third believe the risk outweighs the benefit for enterprises (30%).
Nearly half (47%) of respondents believe the biggest challenge regarding the Internet of Things is increased security threats, while a quarter (27%) are most concerned about data privacy issues. Seven in 10 say they are very concerned about the decreasing levels of personal privacy. According to respondents, the top two concerns that individuals should have about connected devices are not knowing who has access to the information collected (24%) and not knowing how the information collected on connected devices will be used (23%).
Yet while the risks are significant, respondents also said their enterprises have achieved value from the Internet of Things, with 41% reporting that it gives their business greater access to information and a third (34%) saying it has improved services in their organization. Around half hope to benefit in the future from lower costs (48%), increased customer satisfaction (47%), and greater efficiency (47%) as a result of connected devices.
“The Internet of Things is here, and ISACA research shows wearable tech in the enterprise is expected to surge, as more than half of consumers in most regions have a wearable device on their wish lists,” said Prof. Frank Yam, an international director of ISACA and CEO of Focus Strategic Group Inc. “We need to be prepared for the risks these devices pose, while also leveraging the benefits. ISACA recommends an ‘embrace and educate’ approach.”
ISACA recently established the Cybersecurity Nexus (CSX) as a resource that enterprises and security professionals can turn to for security advice. Additional information can be found at www.isaca.org/cyber.
For a full survey report, including related infographics, video and global results, visit www.isaca.org/risk-reward-barometer.
About the 2014 IT Risk/Reward Barometer
The annual IT Risk/Reward Barometer is a global indicator of trust in information. Conducted by ISACA, a global association of more than 115,000 IT security, assurance, risk and governance professionals, the Barometer polls thousands of business and IT professionals and consumers worldwide to uncover attitudes and behaviors about essential technologies and information, and the trade-offs people make to balance risk and reward. The study is based on September 2014 online polling of 1,646 ISACA members from 110 countries. Additional online surveys were fielded by M/A/R/C Research among 1,209 consumers in the US, 1,001 consumers in the UK, 1,007 consumers in India and 1,007 consumers in Australia. The US survey ran 8-11 September 2014, and the UK, India and Australia surveys ran 8-17 September 2014. At a 95 percent confidence level, the margin of error for each individual country sample is: US: +/- 2.8 percent and UK/India/Australia: +/- 3.1%. To see the full results, visit www.isaca.org/risk-reward-barometer.
With more than 115,000 constituents in 180 countries, ISACA (www.isaca.org) helps business and IT leaders build trust in, and value from, information and information systems. Established in 1969, ISACA is the trusted source of knowledge, standards, networking, and career development for information systems audit, assurance, security, risk, privacy and governance professionals. ISACA offers the Cybersecurity Nexus, a comprehensive set of resources for cybersecurity professionals, and COBIT, a business framework that helps enterprises govern and manage their information and technology. ISACA also advances and validates business-critical skills and knowledge through the globally respected Certified Information Systems Auditor (CISA), Certified Information Security Manager (CISM), Certified in the Governance of Enterprise IT (CGEIT) and Certified in Risk and Information Systems Control (CRISC) credentials. The association has more than 200 chapters worldwide.
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