The Internet of Things refers to the intersection and growing convergence between the physical and digital world, and represents a remarkable economic opportunity for many businesses seeking to connect with consumers. However, the Internet of Things remains an elusive achievement due to the significant cybersecurity challenges that threaten its safe implementation. McKinsey identifies that an annual growth in the number of interconnected devices that exceeds 10% can lead to higher vulnerability to cyberattacks and data breaches, stunting the growth of the Internet of Things. To solve this, McKinsey recommends working to embed security systems within devices and be designed around a security-centric philosophy.