Cons Of Internet Of Things For General Electric Company (GE) – TCC

September 27, 2016 Facebook Twitter LinkedIn Google+ Uncategorized

General Electric Company (NYSE:GE) is heavily investing in Internet of Things, as it believes this will drive business in the future. The very Internet of Things, which can make fortunes for General Electric, if left unsecured can cause havoc at the same time.

Many investors and users are concerned about the unsecured Internet of Things, which can cause an environment of uncertainty. The incident of Brian Krebs is one such case. The Distributed Denial of Service (DDoS) attack has recently wiped Brian Krebs website from the internet, which came from the Internet of Things botnet.

Someone who runs a website or any sort of online business can be at risk. This is because criminals can use this attack and use it to hold you for ransom. If the ransom is not paid, the website could be taken offline.

General Electric is not alone to face such threat. Many other companies, including Intel Corporation (NASDAQ:INTC) and International Business Machines Corp. (NSYE: IBM), are working on IoT and need to make it more secure. For many organizations, it is part of their strategic planning. For example, General Electric and Germany’s Bosch signed a partnership under which they will work on building core open-source software.

General Electric is working aggressively on Internet of Things, such hacks do not deter companies from using it, and however, such hacks should make these companies cautious of potential threats that exist.

At the start of this month, a consortium of vendors got together to work on a security framework while working for Internet of Things. Thus, the industry believes it is vital for core industrial operations.