The wireless thermostat, baby monitor, door lock, and smart speakers such as Alexa are very helpful, but also need to be properly protected. A New York Times article provides some helpful details. The highlights of the article are:
Find major brands that support security updates. Double check to make sure you are getting the security updates.
Strengthen your Wi-Fi Security with better passwords and hidden SSID name.
Setup dual wireless networks that separate you computer and mobile device network from your home devices.
Currently known losses (of more than $1000) are limited to about 10% of homes which have such devices. It’s likely that attacks will increase significantly for those who do not take some basic precautions. Taking a few simple steps can protect your home, while still enabling you to enjoy the convenience of smart devices.