CHATSWORTH, Calif., March 23, 2017 /PRNewswire/ -- There are many evolving factors which point to the Identity and Access Management (IAM) evolution that will reshape the cybersecurity industry. These factors include weaknesses in password security, increasing number of distributed and interconnected systems, technological advancements, and, the basic business needs to manage access and regulatory compliance risks efficiently and effectively.
"When considering that users' inability to properly protect and manage passwords causes over 90% of cyber attacks, it is evident that our current IAM approach which mostly uses passwords for authentication cannot support the security of the future state where many devices will be interconnected," says Henry Bagdasarian, Founder of Identity Management Institute and cybersecurity thought leader.
Also, identity and access management will be deployed beyond people, places, and things that we manage today. In fact, many smart devices and robots will be connected to communicate with one another and learn from each other. For example, household systems, which will be a big part of the Internet of Things, will communicate with each other to control and manage our lives. Refrigerators will order food items when the inventory goes down, fire detection systems will contact the fire department in case of fire and notify other household devices, doctors will be notified when our vital signs indicate trouble and much more. Almost everything will have an identity, which will change today's definition of identity theft.
Therefore, Identity Management Institute predicts that organizations will slowly move away from passwords, which have been the leading cause of cyber attacks. Smart systems will be deployed to recognize and greet people using some of their personal and district features when they use ATMs, enter stores and restaurants, visit online websites, enter office locations, drive cars, and access business systems.
The coming transition will occur as the identity and access management industry provides advanced authentication systems such as biometric and artificial intelligence technology which are increasingly becoming more accurate and affordable, hence, justifying the inevitable transition. Biometric authentication technology, which uses a person's characteristics such as facial features and hand geometry to identify and authenticate a person, is advancing rapidly and the market for biometric systems is estimated to grow from $10 billion in 2015 to about $40 Billion by 2022 according to various research reports.
From a business standpoint, many of today's identity and access management tasks will be automated whereby the work of access administrators will be handled by machines in which case robots will authorize and grant access to resources.
The rapid changes in technology and huge dump of data by robots will require future identity and access management professionals to have analytical and critical thinking skills to make sense of all the machine reported data. The work of identify and access management specialists will be to design the automated tasks performed by robots, override machine decisions, and act upon reported data.
SOURCE Identity Management Institute