More than half (52 percent) of New Zealand and Australian organisations have plans to capitalise on the increase of connected devices known as the \u201cinternet of things.\u201d\nMoreover, already 47 percent have already been impacted by such technology, according to IT professionals surveyed in ISACA\u2019s 2013 IT Risk\/Reward Barometer. ISACA is a global association of 110,000 IT security, assurance, governance and risk professionals.\nJust over one-third (36 percent) of the IT professionals surveyed indicated their enterprises have already achieved greater accessibility to information due to the internet of things; and 31 percent have experienced improved services. A fifth of respondents said they have achieved greater efficiency, lower costs and increased customer satisfaction.\nThe term \u201cinternet of things\u201d refers to machines, devices, sensors, cars, cameras and other items that are connected to the Internet and often to each other. Fifty billion devices are expected to be connected to the Internet by 2020.\n\u201cThe internet of things is only set to grow over the coming years, and organisations need to develop proactive strategies to ensure they benefit from the increase in connected devices,\u201d says Tony Hayes, International President of ISACA. \u201cHowever, increased connectivity also opens up a number of security risks, both externally and internally. Organisations need to determine how they will protect the data shared by their devices, while also measuring and communicating the benefits of increased connectivity.\u201d\nOrganisations need to determine how they will protect the data shared by their devices, while also measuring and communicating the benefits of increased connectivity.Tony Hayes, ISACA\nWhile respondents from Australia and New Zealand identified significant benefits from the internet of things, the risks involved with greater connectivity were also recognised, with increased security threats being the biggest governance concern to 28 percent of IT professionals.\nData privacy was highlighted by 27 percent, followed by concerns around identity and access, which are most troubling to 17 percent of respondents.\n\u201cThere are numerous benefits to greater connectivity, but organisations need to be aware of the increased risks that come with the internet of things. We\u2019re already seeing a distinct rise in cyber-attacks and threats across the board \u2013 from accounts being hacked and credit card details stolen to remote entry being manipulated,\u201d says Jo Stewart-Rattray, international director of ISACA.\n\u201cBoth public and private organisations need to ensure their systems are adequately protected and that they are prepared to deal with the inevitable increase in malicious attacks.\u201d\nRelated: Prepare for the Digital Industrial Economy: Gartner\nSidebar:\nFive steps to being agile in a connected world:\nAct quickly; enterprises cannot afford to be reactive.\nGovern the initiative to ensure that data remain secure and risks are managed.\nIdentify expected benefits and how to measure them.\nLeverage internal technology steering committee to communicate benefits to the board.\nEmbrace creativity and encourage innovation.\nSource: ISACA\nFollow CIO New Zealand on Twitter:@cio_nz\nSign up for CIO newsletters for your regular updates on CIO news, views and events.\nJoin us on Facebook.