Industries must either take security, privacy, and safety seriously or find themselves burdened under the crushing blanket of regulatory oversight.
A recent announcement by the European Commission that the Radio Equipment Directive will be updated to include cybersecurity guidelines for radio and wireless equipment, including mobile phones and IoT devices.
Reference Article: https://therecord.media/eu-to-adopt-new-cybersecurity-rules-for-smartphones-wireless-iot-devices/
The warnings have been ever-present. For critical industries that fail to establish effective self-regulation and standards that protect the security, privacy, and safety of users, government agencies will eventually step in and mandate controls through regulations.
A lack of strategic planning results in the most restrictive situation with regards to having to deal with bureaucratic and compliance oversight which increases delays and adds to costs that can stifle innovation. It becomes an unfortunate situation of their own making, which can be avoided if industries proactively move in ethical ways that protect consumers.