& cplSiteName &

Cisco Study Finds an IoT Data Paradox

Scott Ferguson
12/12/2017
50%
50%

As the popularity and importance of the Internet of Things continues to grow, a paradox of how these devices are used and what data is being collected is also taking shape. In essence, people like what IoT does, but they don't trust companies with all the data that sensors and connected devices collect.

These and other observations are contained in a new study that Cisco is publishing entitled IoT Value/Trust Paradox. The report is based on questions sent to 3,000 US and Canadian consumers in October.

The results, published December 12, find that consumers like the types of services that IoT devices offer. However, there is a lack of trust that consumers of IoT technology have with the companies, and sometimes the government agencies, that receive the data that sensors and connected devices collect as part of that process.

(Source: Pixabay)
(Source: Pixabay)

This is the paradox that Cisco's research found:

While there is increasing awareness of IoT and people are finding value in different connected devices and services, the data exchange that is required to deliver that value is sitting on a weak foundation of consumer trust. Consumers are extremely wary of the personal data collected for both personal and public IoT implementations. But, despite all this, the study finds that IoT is so integrated into consumers' daily lives that many are unwilling to disconnect.

Spending on IoT technology, including the hardware, software, security and services that make the whole ecosystem work, is only expected to increase over the next several years. In a recent report, IDC found that spending on IoT is expected to top $772 billion in 2018 and grow at an annual rate of over 14% over the next four years. (See IoT Spending to Reach $772B in 2018 – Report.)

At the same time, Cisco is also looking to delve deeper into the IoT market as the company looks to move away from networking gear and into other areas that include more software and network automation designed to support these new technologies. (See Cisco's Q1 Beats Wall Street Expectations.)

Recently, Cisco announced a new financing program for cities that want to invest in "smart" technologies, as well as IoT. (See Cisco Creates $1B Financing Program for Smart Cities.)

IoT technology remains relatively new and that's causing some of the mistrust between consumers and the companies investing in IoT projects.

For instance, a majority of respondents identified that fitness trackers, smartwatches and home security systems are part of the IoT ecosystem, but less than half realized that street lights, vending machines and wind turbines also have sensors that collect data.


Keep up with the latest enterprise cloud news and insights. Sign up for the weekly Enterprise Cloud News newsletter.


Since consumers have little control over what data is collected by these larger-scale IoT projects, as opposed to more personal ones such as fitness trackers, trust is eroding. About 52% of respondents reported that they "have either a low level of trust or no trust at all that their data is secure," according to the report.

At the same time, only 14% of those questioned believe companies do a good job of informing them what data is being collected and how it is used.

Still, consumers see value and convenience in IoT technology and 42% believe that these devices are so integrated in their lives that they can’t disconnect even when they believe their personal data is not being secured.

To help counter this, Cisco is offering three pieces of advice:

  • IoT companies and government agencies that use the technology need to develop clear, concise policies about what data is collected and how it's used.
  • Tech firms should take granular control of the data they collect and use a management platform that clearly spells out who gets access to the data and why.
  • Finally, companies should create accountability not only within their own firms, but throughout the supply chain to make sure security and data collections policies are uniform.
Related posts:

— Scott Ferguson, Editor, Enterprise Cloud News. Follow him on Twitter @sferguson_LR.

(3)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Educational Resources
sponsor supplied content
Educational Resources Archive
More Blogs from Scott Ferguson
From its roots in industrial farm machinery and other equipment, John Deere has always looked for a technological edge. About 20 years ago, it was GPS and then 4G LTE. Now it's turning its attention to AI, machine learning and IoT.
Artificial intelligence and automation will become more integral to the enterprise, and 90% of all apps will have integrated AI capabilities by 2020, according to Oracle CEO Mark Hurd.
IBM is now offering access to Nvidia's Tesla V100 GPUs through its cloud offerings to help accelerate AI, HPC and other high-throughput workloads.
CIO Rhonda Gass is spearheading an effort to bring more automation and IoT to the factories making Stanley Black & Decker tools and other equipment.
Workday is looking to build out its machine learning and artificial intelligence capabilities with the acquisition of startup SkipFlag.
Featured Video
From The Founder
Light Reading founder Steve Saunders talks with VMware's Shekar Ayyar, who explains why cloud architectures are becoming more distributed, what that means for workloads, and why telcos can still be significant cloud services players.
Flash Poll
Upcoming Live Events
May 14-16, 2018, Austin Convention Center
May 14, 2018, Brazos Hall, Austin, Texas
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
I'm Back for the Future of Communications
Phil Harvey, US News Editor, 4/20/2018
BDAC Blowback – Ex-Chair Arrested
Mari Silbey, Senior Editor, Cable/Video, 4/17/2018
Verizon: Lack of Interoperability, Consistency Slows Automation
Carol Wilson, Editor-at-large, 4/18/2018
AT&T Exec Dishes That He's Not So Hot on Rival-Partner Comcast
Mari Silbey, Senior Editor, Cable/Video, 4/19/2018
US Govt. Bans Domestic Component Sales to ZTE
Dan Jones, Mobile Editor, 4/16/2018
Animals with Phones
I Heard There Was a Dresscode... Click Here
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed