ABSTRACT
The Internet has revolutionized everything around us and reinvented the digital age. It has unlocked the world of digital currency and radically transformed things into an all-embracing digital lifestyle. The Internet of Things (IoT) is an emerging technical fad, and the hype of IoT among consumers is mainly driven by the convenience of automated tasks, the efficiencies of plausible solutions, improved quality of living, affordability, and improved cost savings. The perceived benefits of IoT-enabled products automated through smart sensors and intelligent software can anticipate consumers’ needs, respond diligently, and match their preferences. In the age of IoT, its connectivity has also digitally transformed and reshaped the business world. A large contingent of digital incumbents across various industries have transformed their business models while embracing IoT as the game changer to facilitate business process automation. Despite its immense benefits, the influence of the Internet is a threat vector of choice among hackers and cyber fraudsters. Adversely, the near-ubiquity IoT, namely, enterprise IoT, which forms part of a botnet, is susceptible to being hacked and subject to computer-related crimes. At any cost, the parameters of IoT are conceivably immense, and their uptake is gaining importance. Accordingly, the realities of IoT and its raised security flag over its potential impediment are among the issues discussed in this chapter.
