Governance of the Internet of Things (IoT)
Today’s increasing rate of technological change results from the rapid growth in computer processing speed, when combined with the cost decline of processing capacity, and is of historical import. The daily life of billions of individuals worldwide has been forever changed by technology in just the last few years. Costly data breaches continue at an alarming rate. The challenge facing humans as they attempt to govern the process of artificial intelligence, machine learning, and the impact of billions of sensory devices connected to the Internet is the subject of this Article. This Article proceeds in nine Parts. First, it defines the Internet of Things (IoT), comments on the explosive growth in sensory devices connected to the Internet, provides examples of IoT devices, and speaks to the promise of the IoT. Second, the Article discusses legal requirements for corporate governance as a foundation for considering the challenge of governing the IoT. Third, it looks at potential IoT threats. Fourth, the Article discusses the Mirai botnet. Fifth, it looks at IoT threat vector vulnerabilities during times of crisis. Sixth, the Article discusses the Manufactured Usage Description (MUD) methodology. Seventh, it presents a discussion of recent regulatory developments. Last, the Article considers a few recommendations and provides a conclusion. We believe this Article contributes to an understanding of the widespread exposure to malware associated with IoT and adds to the nascent but emerging literature on governance of enterprise risk, a subject of vital societal importance.
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