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Vodafone Advertorial Security alert How business assets can be assured Carjacking has gone wireless. Thanks to a couple of friendly hackers, journalist Andy Greenberg lost all control of his Jeep Cherokee and plunged into the side of a freeway. Mercifully, it was all a set-up to make a point – but this isn’t science fiction. This is the new age of hacking. Last year, website Insecam hit the headlines as a one-stop shop for more than 73,000 live streaming IP CCTV cameras. Thousands of businesses hadn’t changed the default factory password on their security cameras, leaving them accessible to hackers – and the public. Live video footage of the inner workings of thousands of factories and businesses posed a real threat to their financial and proprietorial security, despite the purpose of these cameras being the opposite. Add a computer to a toaster and someone could remotely burn your last two pieces of bread. Add it to a car or a security camera, and the results can be far more dangerous. We’re all familiar with the threat hackers bring to our bank accounts and personal information, but with the advent of the IoT (internet of things) comes a new challenge; how to keep our smart devices secure. The IoT – from humans to machines It’s no longer enough to bolster the security of our local and cloud systems: M2M (machine to machine) technology means a whole ecosystem of assets is now online – and sensitive to breaches. M2M technology is what drives the IoT – a vast array of devices and machines that use wireless modules to connect to the internet and enable the user to control their assets remotely. While most business owners won’t need to be concerned about hackers turning their machines into weapons, hacking is a real threat to all businesses as we become more connected and reliant on these machines to run them. In the case of the carjacking, professional security experts spent their time uncovering these potential flaws before hackers with more nefarious means were able to – but they highlight the challenges facing this new world of interconnectedness. The wireless future is now M2M technology is already ubiquitous. From obvious items like your smart phone and car’s computer, to toll-paying systems and vending machines that let the distributor know when it’s time to restock inventory – smart devices are part of daily life. Intelligent assets that enable business growth and a seamless experience for both the manager and the consumer are integral to the health of all operations. And they’re here to stay. Back in 2008, the number of things connected to the internet surpassed the number of people on the planet. Now, given we have cameras and computers one cubic millimetre in size, the number is so large it needs upwards of 39 digits. According to a Strategy Analytics report, the global M2M industry size is forecast to grow to around US$200 billion in revenue by 2020. That’s up from US$62 billion this year. With 175 million M2M connections in the global manufacturing and supply chain sector predicted by 2020 (according to a Machina Research report), the industry is only getting stronger. This is no surprise. In this year’s Vodafone Annual Barometer, it was reported more than 25% of all businesses globally use M2M technology and, importantly, 59% of companies report a significant return on investment from M2M. Securing your future Security is a cornerstone of any business. In order to protect both information and physical assets, operators need to make sure they have a firm grasp of the measures needed to maintain security in their business. While enhanced security measures can often be seen as another cost, with 93% of companies surveyed for the Vodafone Annual Barometer experiencing tangible ROI on their M2M assets, security costs are worth the investment. These can range from making sure the password has been changed from the default factory setting to sophisticated encryption services. Whether the security needs are simple or relatively complex, securing M2M assets is a key requirement for any business. M2M drives growth and innovation While threats such as asset hacking by a third party are a concern, real world theft of these assets is still one of the top security risks facing many businesses. Shoplifting alone costs retailers more than US$100 billion annually worldwide according to the Global Retail Theft Barometer. But smarter devices mean added value for businesses. Now able to do much more than send emails or images, smart devices allow access to the machines in your business from your poolside recliner while on holiday in Fiji, or while travelling in an airplane, enabling a more efficient, flexible and global business strategy. The opportunities, efficiencies and security M2M technology brings to businesses will be integral to the growth and innovation of all industry in the near future – something boutique electric commuter bicycle company Vanmoof discovered. The Dutch company needed a way to track their highly desirable and globally shipped bicycles to prevent theft and enable route mapping. By adding GPS connectivity, each bike became a smart device the company was able to track anywhere in the world. What began as a way of ensuring security using M2M technology has offered Vanmoof a unique selling point. “Connectivity means we could monitor distance covered, send service alerts or lock the bike remotely. Things become even more interesting when we mesh this data with other transport data. If we can map the routes of thousands of cyclists, could we help urban planners develop better cycling infrastructure?” said Vanmoof co-founder Taco Carlier. Transformative power of smart devices M2M technology is not only here to stay, it’s an integral component of all businesses of the future. The answer for any operator is to embrace the best this new world of technology has to offer, while ensuring security is at the top of the priorities list. The smarter and more secure your business is connected, the more ready it can be. To find out how Vodafone can help you become a Ready Business, visit vodafone.co.nz/readybusiness VDA714/NBR2