Laying the Cornerstone of IoT Security and Empowering the New Digital Economy

IoT as a Part of a New Infrastructure

At a recent Central Political Bureau Standing Committee meeting, the government proposed to accelerate the development and construction of 5G, data centers, artificial intelligence (AI), Internet of Things (IoT), and other new infrastructures. Eight provinces or direct-controlled municipalities, including Beijing, Shanghai, and Jiangsu, announced nearly RMB 34 trillion in new infrastructure investments. The state’s high level of focus and support in this area has become the core driver of economic transformations, upgrades, and future economic growth.

IoT Security Is Becoming a Fast Lane for New Infrastructure

Given the development of new infrastructure in China, the rapid development of the IoT industry has found a golden opportunity for further boosting. As the number of IoT devices increases with each passing day, security has become a major and urgent concern. The large device base, widespread fragmentation, and vulnerabilities of hardware and software make the cost of attacks on IoT devices extremely low. As a result, attacks are increasing in scale and attack methods are developing rapidly. Security threats have become the norm in the IoT field. In 2018, global security spending reached USD 96 billion, up 8% from USD 89 billion in 2017. The number of IoT security incidents in China was expected to rise from 7,648 in 2018 to 56,121 in 2019, with an increase of nearly 600% over the previous year.

Alibaba Cloud’s New IoT Focus Builds a Secure Foundation for New Infrastructure

In March 2018, Alibaba entered the IoT market, making IoT the fifth major focus of Alibaba Group after e-commerce, finance, logistics, and cloud computing.

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