E-Business
IOT Security Spending to Reach $1.5bn in 2018
Global IOT security spending will reach $1.5 billion in 2018, a 28% increase from 2017.
This is according to an IOT security spending report conducted by Gartner, which found that IOT security initiatives by global organisations will increase from last year’s spending of $1.2 billion to $1.5 billion this year, as organisations seek to improve IOT software and hardware security asset management initiatives.
By 2021, regulatory compliance, notes Gartner, will become the prime influencer for IOT security uptake. According to the report, IOT-based attacks are already a reality, with nearly 20% of global organisations observing at least one IOT-based attack in the past three years.
Despite the steady year-over-year growth in worldwide spending, Gartner predicts that through 2020, the biggest inhibitor to growth for IOT security will come from a lack of prioritisation and implementation of security best practices and tools in IOT initiative planning. This will hamper the potential spend on IOT security by 80%.
“In IOT initiatives, organisations often don’t have control over the source and nature of the software and hardware being utilised by smart connected devices,” says Ruggero Contu, research director at Gartner.
“We expect to see demand for tools and services aimed at improving discovery and asset management, software and hardware security assessment, and penetration testing. In addition, organisations will look to increase their understanding of the implications of externalising network connectivity.”
These factors will be the main drivers of spending growth for the forecast period with spending on IOT security expected to reach $3.1 billion in 2021.”
By 2021, Gartner predicts that regulatory compliance will become the prime influencer for IOT security uptake. Industries having to comply with regulations and guidelines aimed at improving critical infrastructure protection are being compelled to increase their focus on security as a result of IOT permeating the industrial world.
“Interest is growing in improving automation in operational processes through the deployment of intelligent connected devices, such as sensors, robots and remote connectivity, often through cloud-based services,” says Contu.
“This innovation, often described as industrial Internet of things or Industry 4.0, is already impacting on security in industry sectors deploying operational technology, such as energy, oil and gas, transportation, and manufacturing.”
Earl Perkins, research vice president at Gartner, says the biggest challenge security and risk managers will face is shifting their perception of how to manage and assess risk.
“Security managers are accustomed to taking a calculated risk on how to mitigate threats in their organisation, but the rise of IOT introduces new variables to the risk formula, variables that need to be incorporated into traditional means of assessing and calculating IT risks.
As a whole, the industry will need to acknowledge IOT’s pervasive presence and adopt new strategies that consider our digital world,” notes Perkins.
According to a 2018 Thales Data Threat Report, organisations around the world are facing increasing pressures to secure their data, driven by escalating cyber attacks, traditional insider threats, privacy requirements and data residency regulations.
“This year we found that organisations are dealing with massive change as a result of digital transformation, but this change is creating new attack surfaces and new risks that need to be offset by data security controls,” says Garrett Bekker, principal security analyst, information security for 451 Research and author of the report.
“While times have changed, security strategies have not: security spending increases that focus on the data itself are at the bottom of IT-security spending priorities, leaving customer data, financial information and intellectual property severely at risk.
If security strategies aren’t equally as dynamic in this fast-changing threat environment, the rate of breaches will continue to increase.”
Cyber security firm FireEye, predicts that the shortage of skilled workers, an increase in cloud adoption as well as IOT are some of the challenges that await the cyber security industry in 2018.
E-Business
Vatican Says AI Possesses ‘Shadow of Evil’, Calls for Careful Regulation
The Vatican has issued new guidelines on the use of artificial intelligence (AI), warning about the potential for “the shadow of evil” in the technology, which it said offered “a source of huge opportunities but also profound risks.”
AI can fundamentally make a positive contribution in various areas of societal life, according to a newly published document.
“Yet, as in all areas where humans are called to make decisions, the shadow of evil also looms here.”
In the new document meant to admonish the Catholic faithful, the church warned that the technology should be used to complement human intelligence, “rather than replace its richness.”
The document was approved by Pope Francis, who has repeatedly warned that the application of artificial intelligence should be grounded in ethical and moral considerations.
“In all areas where humans are called to make decisions, the shadow of evil also looms here,” the Vatican said in the paper.
It added, “The moral evaluation of this technology will need to take into account how it is directed and used.”
The paper “is a synthesis of a lot of the existing materials that have been developing organically over the last while,” drawing on Francis’s past statements and writings to look at A.I.’s effect on relationships, education, warfare and work, said the Rev. Paul Tighe, one of the people who worked on it.
The paper according to New York Times was written over six months by a Vatican team in consultation with various experts, including those in A.I.
In light of the dangers, the document with the Latin title “Antiqua et Nova” (Old and New), states that governments and international organizations should ensure AI is used for the benefit of all.
“This issue requires careful regulation, as misinformation — especially through AI-controlled or influenced media — can spread unintentionally, fuelling political polarization and social unrest,” the document warned.
However, the head of the Catholic Church frequently warns of the dangers of AI in public appearances and seeks to bring ethical concerns surrounding the technology to the forefront.
E-Business
Kaspersky Shares Tips to Stay Safe While Using AI Assistants
The new DeepSeek AI assistant has attracted a lot of attention in recent days. Kaspersky experts have also detected scam activity related to it.
Due to high numbers of new users and an alleged cyberattack on DeepSeek, there are glitches in the registration process on DeepSeek’s app and website – many registrations cannot come through.
This situation can be used by cybercriminals to steal the credentials of users through fake DeepSeek web pages.
Through such fake registration pages, attackers can collect users’ emails and passwords. These can be exploited to access users’ accounts – on DeepSeek or in other services (if the password is the same for multiple accounts).
There were also several new crypto tokens based on the DeepSeek hype available for sale. They are not tied to the DeepSeek brand officially, hence their capitalisation is speculative.
Such scam schemes like creating phishing emails are quite widespread with popular AI models – it’s important to recognize that cybercriminals will inevitably seek to exploit such tools for malicious purposes.
“What stands out in the case of DeepSeek is its open-source nature. While open-source frameworks foster transparency, collaboration, and innovation, they also introduce significant security and ethical risks.
“When you’re using an open-source tool, you can’t always be sure how your data is being handled, especially if someone else has deployed it,” comments Leonid Bezvershenko, Security Researcher, Kaspersky GReAT.
“Exploitation of open-source software was a major trend in the threat landscape last year, with cybercriminals running complex campaigns to embed malware. In 2024, our open-source scanner detected over 12,000 malicious packages in open repositories.
“Without centralised oversight, threat actors can start creating compromised versions of software or introduce backdoors under the guise of tools for using the API of DeepSeek, presenting serious risks to users and organisations.”
E-Business
NDPC @ 2025 Data Privacy Day, Calls for Collaboration on Awareness
Nigeria Data Protection Commission (NDPC) has called for increased collaboration to raise awareness and foster data privacy and protection across Nigeria.
The call was made by Dr. Vincent Olatunji, national commissioner, NDPC, during an event marking the 2025 World Data Privacy Day in Lagos.
World Data Privacy Day, observed globally on January 28 every year, serves to highlight the importance of data privacy.
The theme for this year’s observance was “Respecting Privacy, Safeguarding Data, and Enabling Trust.”
Olatunji, who joined the event virtually, stressed that collective action was required to prioritise data privacy in order to attract foreign direct investment into Nigeria.
In his speech, Olatunji outlined the importance of protecting personal data, emphasising that everyone must understand how to safeguard their personal information.
“We need to know how to protect our personal information and data and make sure that we do not share personal information anyhow,” he said.
He also urged data controllers and processors to ensure the protection of data under their care.
Olatunji further discussed the necessity of developing a robust digital economy in the country, which depends on a comprehensive approach to data management, policies, and strategies.
“We all need to work together to make it happen,” he added.
Highlighting the Commission’s progress, Olatunji noted that over 10,000 people had been trained, to create 500,000 jobs in the Nigerian economy through data protection initiatives.
Mr. Tokunbo Smith, president, Data Knowledge Information Privacy Protection Initiative (DKIPPI), also spoke at the event, urging Nigerians to make full use of the Nigeria Data Protection Law, which was passed in June 2023.
Smith praised President Bola Tinubu for signing the law into effect, calling it a “day of freedom for Nigerians.”
He highlighted the law’s provision that empowers individuals to take legal action against anyone who misuses their personal data.
Smith also commended the NDPC for its efforts in training data protection officers and providing certification exams, encouraging Nigerians to leverage these opportunities to protect their data and explore career paths in data protection.
Mr. Fiyinfolu Okedara, guest speaker, further emphasised the need for continuous awareness of data privacy.
He explained that data protection should be an ongoing process, not just a one-time event.
Okedara urged both organisations and individuals to prioritise data privacy education year-round, rather than only on World Data Privacy Day.
During the panel discussion, Mr. Gbenga Sesan, executive director, Paradigm Initiative, stressed that respecting data privacy is a shared responsibility.
He urged people to safeguard their personal data by not writing it down carelessly and to foster trust by ensuring data protection is prioritised.
Mr. Olumide Babalola, another panelist, raised awareness about the future implications of data privacy, predicting a time when children might sue their parents for creating digital footprints for them.
He stressed that consent should always be obtained before adding someone to a WhatsApp group, as failing to do so would constitute a breach of privacy.
The event aimed to foster greater awareness of data privacy and promote best practices among individuals and organisations, ensuring that data protection remains a priority in Nigeria’s evolving digital landscape.
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