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Cisco, a leader in IT and networking, claimed that three-quarters of all IoT projects are starting to fail because they were designed to solve individual issues and ended up becoming unsupported.
Cisco Australia’s Chief Technology Officer Kevin Bloch explained that majority of IoT projects are failing because companies lack experience in developing them and also because of segmentation. In addition, he said that various factors contributing to the failure of IoT projects include lack of cybersecurity, project definition, support, governance, and qualified skills by people running them.
“A complete IT stack needs to be built in support of the solution,” says Bloch. According to him, the inaugural phase of Internet of Things projects are characterized by different point solutions from a large number of vendors and most of them are startups.
The CTO explained that their company is now constructing an IoT Phase 2 plan where it will cope with multiple vendors, data interchanges, applications, and sensors. He added Cisco because of plans to help other companies to launch successful internet of things solutions, which is possible by discussing both successes and pitfalls of the project.
To avoid IoT failure, Bloch shared, something that is not secured should not be connected in the first place.
"We are becoming more mobile, we are using more cloud services, and we are expanding IoT deployment to tens of billions of connected things,” the CTO notes, saying that this expands attack and exploitation opportunities. He emphasized that taking the right precautions is important to the success of IoT projects.