According to security vendor Trend Micro, AI and machine learning will be leveraged as ways to access connected devices in consumer and enterprise environments, predicting that malicious actors will make efforts to monetise IoT attacks, with digital extortion being the most likely outcome.
“IoT devices like routers will be monetised through botnets, which can be used subsequently as a distributed network for services offered to cybercriminals," Trend Micro said in a report.
"It is not far-fetched to conjecture that router hacking will also come in the form of botnets used for Domain Name Server (DNS) hijacking, peddled as either crime-ware or a service, primarily for phishing."
Automation and RPA
The rate of adoption for Robotic Process Automation (RPA) using bots to automate laborious tasks has spiked in recent years. Analyst firm Forrester estimates that the market will reach $2.9 billion (£2.20 billion) by 2021.
However, some experts are doubtful that RPA will truly be as transformative to the future of the workplace as the vendors have positioned it.
“While robotic process automation (RPA) has been the hyped technology of 2019, its potential is ultimately limited and will never drive genuine business transformation,” Steve Haighway, COO Europe at IPsoft said.
“With enterprises increasingly recognising its finite opportunity, next year we are likely to see a large uptake in hyper automation: a powerful blend of robotic process automation (RPA), intelligent business management software and artificial intelligence (AI) used to automate processes in a way that is significantly more impactful than standalone automation technologies.”
But others are more optimistic.
“Most companies will be able to automate at least 20 per cent of their workload within the space of five years. As some of the largest organisations in the financial and insurance sectors are moving to industrialise their automation efforts, smaller and niche players need to start their automation journey right away,” James Ewing, regional director UK and Ireland at Digital Workforce told Computerworld.
“Without RPA, businesses will not only struggle to close the gap between them and their competitors but could even die out or be consumed by larger more efficient players.”
What to expect
According to Microsoft’s study, the future of IoT is dependent on other technology such as 5G and AI, which will be critical for success in the next two years.
“With innovation labs that were previously acting independently now more closely integrated with broader IT teams, and other stakeholders across the business engaged with the process, IoT projects will deliver concrete results for the enterprise,” Felix Gerdes, director of digital innovation services at Insight UK said.
GSMA Intelligence estimates that IoT adoption will add up to $370 billion (£281.83 billion) per annum to the global economy by 2025.
“Adoption will keep growing over the next three years as more organisations make use of scalable, easy-to-deploy, cloud-based IoT solutions such as Microsoft and BMW’s Open Manufacturing Platform," added Gerdes.