IoT: The “P” Stands for Privacy

A closer look at essential privacy considerations and due diligence for IoT devices.

Presentation to the IAPP Toronto KnowledgeNet January 16, 2024 in Partnership with Cat Coode - Data and Privacy Strategist

Executive Summary

The Internet of Things (IoT) is transforming industries, enabling businesses to collect and leverage vast amounts of data through connected devices. While IoT offers innovation and efficiency, it also introduces significant privacy challenges that organizations must address—especially when selecting and integrating IoT vendors.

Key Items Addressed:

• What is IoT? A brief introduction to IoT, its role in modern business operations, and an overview of commonly used IoT devices across industries.

• Privacy Concerns in IoT An exploration of key privacy risks associated with IoT, including data collection, security vulnerabilities, third-party access, data retention, and regulatory compliance. Understanding these risks is essential when evaluating vendors and their technology.

• Fitting Privacy into Your Due Diligence Best practices for incorporating privacy considerations into IoT vendor due diligence, both professionally and personally. This includes privacy risk assessments, contractual safeguards, data governance expectations, and regulatory compliance checks to ensure vendors align with your organization’s privacy obligations.

Conclusion

As IoT adoption grows, privacy must be embedded in procurement and vendor evaluation processes. By proactively addressing privacy risks, organizations can mitigate compliance challenges, protect consumer trust, and ensure their IoT investments align with best practices for data protection.