The Future of AI-Powered IoT Cybersecurity

As our devices become more interconnected, it’s mission-critical to have rigorous cybersecurity infrastructure that prevents networks from becoming compromised. Fortunately, recent AI developments seem to be paying off. With the help of AI, office spaces that have interconnected devices and appliances may become much safer.

The Internet of Things

For those not in the know, you should first understand what IoT is. The Internet of Things is a catch-all term for the interconnectivity that’s common in almost any electrical device nowadays. When you use your phone to turn off lights or start a kettle in your house, you’re using IoT.

This presents a security concern where one part of the network may be vulnerable. These weakest links can be used to get in and exploit systems, which is why high cybersecurity standards are needed. A lot of personal data can be at risk, so cybersecurity needs to be on par with the online world’s most secure vaults. Those would be websites that handle money and large traffic spaces – anything related to government, banking, or paid online entertainment.

iGaming is an online industry that’s used to a high level of security. One of its largest sites is the casino at Paddy Power Games, where people play many different slot games across many different themes and mechanics. Each opens out to its own window that is protected from any tampering through tried-and-true methods like using HTTPS SSL certificates.

This holistic approach, protecting every part of a network, is necessary to IoT. One network breach from an app-controlled desk lamp can become an office-wide issue fast. We already know this is the case for websites too if one webpage is compromised, so there’s no reason to ignore office space security, especially when they can contain a lot of important data.

AI-Powered Cybersecurity

That’s where AI can come in, enhancing the security measures already available to us. A lot of benefits are tied to the innate benefits of AI, like the ability to detect and respond to threats in real-time. This is why AI is being favoured for services like chatbots – they can outpace ordinary workers and act on requests instantly. Many companies have licensed OpenAI services as a result, with giants like Microsoft extending their partnership.

 

AI can make the ‘smart’ hardware in an IoT network even smarter. Many IoT devices use small circuit boards to add the appropriate sensors and receivers to otherwise household products. When interacted with, these will record and generate data to show on a companion app if possible. For example, recording light switch usage metrics to show you the energy that you saved this week. AI can become better at analysing this data, automating its processes and most importantly, noticing any breaches related to the network. It may sound trivial but, if compromised, our smart light switch example has a direct connection to your phone.

The State of the Market

The market for strong cybersecurity is only growing as more people and appliances go online. The Global IoT Security Market Research Report 2023 combed through insights from Intel, Verizon, General Electric, IBM, AT&T, and Check Point, among others. Financially, the report estimates that the IoT security market will be worth $71.6 billion in 2029. As of 2023, it’s approximately $20 billion.

While the market grows, it’s growing to combat a mounting threat. Per Check Point’s figures, January and February alone saw weekly average cyberattacks rise by 41%. Cloud technology is a big contributor to this, having positioned itself as a convenient and cost-effective alternative, but not everybody has the security firepower to guarantee safety. That’s why some companies have engaged in cloud repatriation, Forbes reports. AI could be a game changer by making IoT networks more secure than they have ever been, if only one of the market-leading companies markets it effectively.

In the meantime, there’s no doubt that the cybersecurity space will continue to grow in the wake of AI-powered services. AI doesn’t just make online security more effective, it’s a new tool in the arsenal of a bad actor. This necessitates further investment into cybersecurity to stay ahead of the competition and better protect soft targets like Internet of Things spaces.