Advances in technology in the 21st century have been rampant and industry-changing. These changes are perhaps most apparent with how advanced the internet has become and how prevalent it is in everyday life, which has given rise to the internet of things, commonly referred to as IoT.
The IoT is essentially the combination of physical items with the internet outside of standard computers. Items like cell phones fall into the IoT, and most users expect to connect to the internet from their phone easily. However, cell phones are far from the only everyday device that continually accesses the internet, with products like speakers, vehicles and even watches coming under the IoT as well.
For users, this change means technology is at a level of connectivity where it has never been before. Additionally, the amount of information that’s available as a result of these IoT devices is substantial and allows people to examine the different habits in their lives. It’s this same collection of information that has also recently landed IoT products in hot water.
IoT and Personal Information
By giving a device ” or in many cases, several devices ” access to your daily actions and communication, you’re enabling them to record significant amounts of personal data. This data is then stored and used. In the internet of things, significant portions of your life can be tracked, mapped, recorded and stored.
While the IoT has given rise to numerous innovations, the advances in internet technology and its availability have led to an increase in cybercrime. As the IoT continues to grow and encompass more areas of daily life, the risk of an attack over the internet increases. Previously, hackers and other cybercriminals would have only had access to PCs or smartphones. Now, anything that connects to the internet can be a potential target.
Putting Trust in the Internet of Things
Purely by using a device from the IoT, consumers are putting some form of trust in the product. However, that trust has certainly been tested. There have been numerous examples of companies utilizing their IoT devices in a manner that violates the trust of their users.
For example, it was revealed in a Bloomberg report that Amazon Echo speakers record conversations, and then Amazon employees listen to the recordings and transcribe them. This recording and transcription process is a part of Amazon’s goal to enable Alexa to better understand the user’s requests. According to the report, however, Amazon employees have access to recordings that go far beyond what people say to Alexa, with many of them revolving around private conversations. Meanwhile, the employees also regularly share these personal recordings with each other.
Not all IoT devices misuse information or gather data they aren’t supposed to. The fact of the matter remains, however, that these technologies have advanced and become readily available, often without sufficient security. With no signs of the IoT’s growth slowing down, this lack of security is an immediate issue.
The Strength of Consumer Trust
With how prevalent the internet of things has become, it begs the question, Why is consumer trust important? If these internet-connected products are only going to become more prevalent and the desire is still there, why should companies care whether or not their users trust them? With the advances in technology across the board, more and more companies can integrate internet-based services into their products. If a business doesn’t respect the trust of its consumers, those buyers will find another one that does.
Likely the strongest advocate for consumer trust is legislation, as the importance of consumer trust is being made very evident by lawmakers. There have been recent efforts by lawmakers to limit what data companies have access to, including a California bill that would require companies to request permission before recording and storing conversations. This bill and others like it are the direct results of consumers losing trust in their IoT products and the companies making them.
How to Create Consumer Trust
The first and most important step to building consumer trust and ensuring the success of an IoT device is to ensure that the product is secure. Advances are being made in this field as well, with blockchain technology being a leader in the future of product security. Transparency and clear communication are also very important to foster, or repair, consumer trust. Users don’t want to read the fine print or feel that their information is being used for ulterior motives. Clearly convey the amount, type and scope of the data that you collect as well as the reasoning behind it.
Consumer trust of the internet of things is unstable, due largely to the actions of the businesses making the products. As consumers and legislators take a harder stance against companies collecting private information, trust will only be that much more important in the future.
