Smart Home Devices And Privacy Risk

 Friday, October 18, 2019

 Risk Management

Internet-connected products have become enmeshed in many aspects of daily life, both at home and in the workplace.

According to the consumer trends research firm Park Associates, 36% of homes with a broadband internet connection have a smart speaker, and 8% have a video doorbell, with another quarter of respondents saying that they plan to buy a video doorbell in the future.

While “smart home” or internet of things (IoT) devices have become more prevalent and may make everyday or business tasks more convenient, they also diminish consumers’ privacy and introduce serious risks, for both users and device developers and manufacturers.

With connected devices, the connection goes two ways. When consumers bring internet-connected devices into their homes or businesses, the companies behind the devices gain access to a wealth of information about those consumers.

Companies often do not explicitly disclose all of these practices to users, quietly harvesting, analyzing and sometimes selling their data to third parties like advertisers.
LiabilityRisk Management