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Enhancing Business Transformation Through Cybersecurity Frameworks in IoT Ecosystems: Strategies for Risk Mitigation and Consumer Trust
Abstract
The rapid growth of the Internet of Things (IoT) brings both opportunities and cybersecurity challenges for businesses. This chapter examines the integration of cybersecurity frameworks within IoT ecosystems, highlighting their role in mitigating risks. It discusses frameworks like the NIST Cybersecurity Framework and ISO/IEC 27001 as essential tools for addressing vulnerabilities. Through qualitative analysis of case studies, the chapter assesses how organizations utilize these frameworks to identify risks, develop management strategies, and enhance security awareness. Findings reveal that adopting cybersecurity frameworks improves risk management and boosts consumer trust, enhancing operational resilience. The chapter concludes with recommendations for tailored frameworks, employee training, transparent consumer communication, and regular vulnerability assessments.
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