PWC Digital Trust Insights Report 2018 – Building trust is a journey worth taking

“Digital businesses that lead in safety, security, reliability, privacy and data ethics will be the titans of tomorrow. If the lifeblood of the digital economy is data, its heart is digital trust—the level of confidence in people, processes, and technology to build a secure digital world. Companies, regulators, and consumers need fresh mechanisms to build confidence as they address emerging challenges in business, risk management, and compliance.”

That’s according to PWC Digital Trust Insights Report 2018.

The Report is a summary of interviews of over 3000 business, technology and security leaders from 81 geographies. It shows that while most businesses are currently not doing enough to build digital trust, there are clear opportunities to do so.  At a basic level, these opportunities boil down to improvements in three main areas that will make or break digital trust in any organisation:

People,  Processes Technology

Confidence in all three of these is critical to building a secure digital world.

People

Who will be your trust trailblazers?

Processes

What processes can become new trust mechanisms?

 

Technology

How can trust keep pace with emerging technology?

The adoption of new digital technologies and capabilities is transformative and provides more market opportunities for organisations. By these emerging technologies, organisations are also opening themselves to a new breed of risks which never existed in the previous industrial revolutions.

Francis Kaitano, Fusion’s Cyber Security Lead Architect says that organisations must adopt a more proactive and holistic approach in  building cyber resilience, digital trust, compliance, and integrate security and continuous risk management to business drivers and goals. At the same time they must be adaptable to the pace of technological and consumer changes.