The Internet of Things (IoT) refers to the connection of various devices to the Internet. The Internet of Things (IoT) is growing in prominence almost exponentially. Today, manufacturers are creating products with cyber capabilities that range from life-critical systems such as cars or medical devices, to more prosaic, even whimsical products like internet-connected toasters. The expansion of connectivity brings with it risks to security and privacy.
How should those risks be addressed? Is this a case where the market will provide a solution? Or is this one of those instances where regulation is required? Are manufacturers liable for insecure products? If not, who pays when something goes wrong?