As more and more everyday items are being updated and connected to the Internet there has been a need to make sure that they are not used improperly by either cyber criminals, or the companies that actually make them. Today everything from your car to your thermostat and even your refrigerator or coffee maker can be online as part of the new ‘Internet of Things’ industry.
While the benefits of these new connected devices are great, the FTC has been looking at how the risks could cause problems for consumers. Specifically, the risk that companies will improperly collect data on consumers and use it for marketing, advertising or other profit generating activities.
This week the FTC has released a report, in which they lay out a number of ‘voluntary best practices’ regarding these types of devices. It is important to note that the FTC has a history of turning ‘voluntary’ best practices into mandatory regulations, so all marketers and device makers will want to look at this report carefully.
The report also estimated that the number of ‘things’ that are connected to the Internet will be approximately 25 billion (over four devices per person in the world) by the end of 2015. Just five years later, that is expected to double. This is clearly a huge industry, and the FTC is looking to get in ahead of the curve to hopefully prevent problems.
Whether you are a marketer who is selling internet connected devices, a manufacturer making them, or just a user, it may be worth your time to read through the new FTC report, which can be found HERE.