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3 most controversial take-aways from a major gathering of IOT experts

CBR looks at the hot topics that divided attendees at LiveWorx.

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As the world has been hearing about a smart connected ecosystem, experts attending LiveWorx 2015 started to raise eyebrows with some controversial points.

Discussing how to go from IoT to ROI, EMC, Accenture, Tego, ParStream and Object Management Group (OMG) clashed on some points.

Richard Soley, CEO at OMG, said that the future is so bright "you will need sunglasses".

The opening of the debate generated laughs, but soon things got serious.

CBR put together the three major points that generated discordance.

1) "We overlook security"

Security has been defined as one of the main priorities companies need to focus on to protect their IoT solutions, an opinion very much shared by all.

Tim Butler, President at Tego, said that when an IoT solution is built, a door is opened "to an avenue where corruption can occur".

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Allan Alter, Senior Researcher at Accenture underlined trust as the main issue when selling IoT followed by Wayne Adams, CTO of EMC who added that designing security into every aspect is a must and "in the IoT world safety is key".

But as the panelists sounded to be in unison, Syed Hoda, CMO at ParStream said what many found somehow controversial: "Sometimes we overthink security."

He continued: "There is data no one cares about and we need to look at what really is important and worth to protect."

2) Cybersecurity insurance

The topic of security is – along with partnerships – the hottest item in the IoT ecosystem and that leads naturally to insurance protection.

Insurance companies don’t offer full coverage for cyberattacks.

Mr Soley said: "Insurance companies will offer cybersecurity coverage waking up companies to more security."

This will lead to another market ramification of IoT, which will generate billions of dollars in revenues to insurance companies.

3) The born of CIoTO

Over the last few years, companies adapted themselves and created new roles and positions.

We have now CEOs, CTOs, CFOs, and the list goes on.

But for Mr Hoda, we are about to see "the born of the Chief IoT Officier".

The polemic came to the room, when Mr Soley, also Executive Director of the Industrial Internet Consortium (IIC) commented on Mr Hoda’s idea.

Mr Soley said: "Right, because what we need is 50 chief officers in a few years time, and the bottom one will be the Chief Bullshit Officer (CBO)."

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