A Holistic Framework for AI-Driven Cyber Risk Management in IoT Ecosystems

Abstract

In an era where the fusion of digital and physical worlds is increasingly blurring
the lines, the Internet of Things (IoT) emerges as a pivotal cornerstone, reshaping
our interaction with technology and its impact on daily life. This rapidly evolving
landscape, buoyed by an ever-expanding web of interconnected devices, brings
forth unprecedented opportunities and challenges, particularly in the realm of
risk and cybersecurity. The ubiquitous nature of IoT, spanning from the simplest
household gadgets to complex industrial machinery, has made it a focal point in
the discourse of modern technology. In this intricate tapestry of interconnected
devices, each node not only communicates and collaborates, but also becomes a
potential vector for security vulnerabilities. As these IoT ecosystems become
more integrated into the fabric of society, their security and robustness are not
just conveniences, but necessities. At this time, there are no widely accepted IoT
security models. The aim of this paper is to establish a holistic framework that
utilizes artificial intelligence coupled with risk management models to create a
unique approach in handling risk in IoT ecosystems.