A Review on Information Security Risk Assessment of Smart Systems: Risk Landscape, Challenges, and Prospective Methods

The development of Smart Systems has been followed by the emergence of security risks associated with cyber and artificial intelligence. Besides being the most significant source of risk for organizations, cybersecurity is also the most challenging risk for organizations to objectively define and assess. These challenges include: (i) the changing threat landscape, (ii) the complexity and dynamic nature of the technology landscape within the organization, and (iii) issues related to human resources. The complexity of the risk landscape increases with the massive development and utilization of artificial intelligence technologies. On the other hand, there are several limitations in security risk assessment. The main limitation of qualitative risk assessment approaches is the high subjectivity of the assessment, while quantitative assessments are highly dependent on the availability of adequate data. This study is intended to determine how the information security risk landscape in the cyber and artificial intelligence environment, challenges in security risk assessment, and prospective risk assessment methods can be effectively used in a Smart Systems, organization, or integrated in a Smart City.