IoT and Diversity – Do We Have Enough Good Guys to Fight the Bad Guys?

From connected cars to connected kitchens to connected classrooms, the Internet of Things (IoT) is advancing our lives in ways we never imagined. It is expected there will be 50 billion connected devices by 2025[1]. While the benefits of a mobile world are easy to appreciate, the risks of protecting customers and their information has never been more of a priority:

• In 2015, Symantec’s Internet Security Threats Report saw a record-setting total of nine mega-breaches, the reported number of exposed identities jumped to 429 million and there were over one million attacks on people each day in 2015[2].
• The cyber security market itself is projected to grow from $75 billion in 2015 to $170 billion by 2020[3].
• From 2000-2015, demand for cyber security professionals increased 3.5 times faster than the demand for other IT jobs and increased more than 12 times faster than the demand for other non-IT jobs[4].

Cyber security’s role in our world is changing almost as fast as the online world it’s protecting.

Are companies preparing for this shift?

Only half of CEOs surveyed in KPMG’s 2015 Global CEO Outlook Survey are prepared for a cyber event while close to a third of them feel cyber security is one of the most significant factors for their business today.

Part of this gap is due to the fact that many organizations only understand IoT security risks at a high level. For example, information in the cloud may streamline services, however, critical information will now require more sophisticated protection. Having a connected device – such as a car – can revolutionize the customer experience, however, it also means predators can compromise vehicles in a whole new way. Security is no longer an add on, a nice to have, it is critical and must be an integral part of the development process.

How can companies prepare for this shift? A few weeks ago, I attended the Black Enterprise Tech ConneXt Summit where leading technology executives gathered to discuss the industry’s latest trends. Part of the discussion surrounded one of the key success factors in our increasingly connected world – growing a diverse, qualified workforce.

In cyber security this is a growing challenge. While unemployment remains high in most parts of the world, the cyber security industry is its own oasis of professional opportunity. An estimated 500,000 to 1 million jobs remain unfilled in the U.S. alone[5]. This gap is expected to grow to a staggering 1.5 million by 2020[6].

At the same time, the cyber security industry faces a significant lack of diversity. While women are leaders in adoption of technology, they hold less than 26% of technology jobs in the United States. When looking at some of the leading tech companies, less than a third of leadership positions are females, and at most less than a third are minorities[7]. The research is clear that diversity strengthens companies across the board. According to McKinsey, “companies in the top quartile for racial and ethnic diversity are 35 percent more likely to have financial returns above their respective national industry medians, and companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above their respective national industry medians.”

We must bridge this gap – help people of all backgrounds understand the opportunities that exist and the road they can take to get there. I like to say, we need enough good guys to protect against the bad guys.

New roles are emerging and we are breaking down conventional stereotypes; a career in tech no longer means being a data analyst or coder. Technology relies on a stellar user interface, creative and engaging marketing strategies, and much more. At Symantec we are creating opportunities through our employee resource groups (ERGs), developing partnerships to recruit and retain diverse talent and helping fill the workforce gap by offering opportunities to professionals of all backgrounds through our signature Symantec Cyber Career Connection (SC3) program. 

Security is often seen as a roadblock, however today’s leaders are seeing it as an opportunity. An opportunity to build customer trust, brand credibility and differentiate from the competition. Technology is an enabler both through the solutions it makes possible as well as the breadth of opportunities it’s creating for a diverse and qualified workforce.

Renault Ross is Symantec's Chief Cyber Security Business Strategist