{"id":9953,"date":"2022-11-28T20:40:32","date_gmt":"2022-11-28T19:40:32","guid":{"rendered":"https:\/\/telecomkh.info\/?p=9953"},"modified":"2022-11-28T20:40:32","modified_gmt":"2022-11-28T19:40:32","slug":"world-economic-forum-report-maps-how-companies-can-commit-to-earning-digital-trust","status":"publish","type":"post","link":"https:\/\/telecomkh.info\/?p=9953","title":{"rendered":"World Economic Forum report maps how companies can commit to earning digital trust"},"content":{"rendered":"

The report provides a decision-making framework with tech leaders\u2019 commitment to security and reliability, accountability and oversight, and inclusive, ethical and responsible use of technology<\/strong><\/p>\n

Digital trust is the expectation by individuals that digital technologies and services \u2013 and the organizations providing them \u2013 will protect all stakeholders\u2019 interests and uphold societal expectations and values, according to a new report from the World Economic Forum.
\nFrom artificial intelligence to connected devices, from the security of personal information to algorithmic predictions, failures by technology developers and digital service providers have eroded confidence at an unprecedented scale and rate. Surveys have also registered an alarming decrease in trust in science and technology as well as a host of other social institutions and links. The trust gap is growing year by year, just as our reliance on digital networks and technologies is accelerating.<\/p>\n

The report, \u201cEarning Digital Trust: Decision-Making for Trustworthy Technologies\u201d written in collaboration with Forum partners Accenture, KPMG and PwC, outlines how collaboration between cybersecurity, privacy, ethics and other business functions can improve trust in technology.
\nCitizens and consumers expect companies and technology developers to take their values \u2013 on privacy, data use and inclusion \u2013 seriously. Where companies are unable to produce technology that meets those expectations, they can no longer expect widescale adoption. Companies are not ready to meet this challenge:
\n\u2022 PwC indicated recently that only 10% of executives feel ready to comply with cybersecurity transparency requirements (PwC 2023 Global Digital Trust Insights)
\n\u2022 Accenture suggested that a growing lack of trust cost US organizations $756 billion in 2017 alone and that today more than 76 % of CEOs say citizen trust is critical to business competitiveness (How to Build Trust in a New Digital World)
\n\u2022 KPMG said increased trust can lead to better profitability but, at the same time, over 75% of executives believe that new technologies such as artificial learning and machine learning raise troubling questions on cybersecurity and ethics (KPMG Cyber Trust Insights 2022)<\/p>\n

To reverse this alarming trend, the World Economic Forum convened representatives of the world\u2019s largest tech and consumer-focused companies \u2013 including Apple, Microsoft, Google, Amazon, Mastercard, Walmart, IKEA, PayPal, Salesforce and others \u2013 alongside government representatives from the US, European Commission and Singapore and leading consumer advocates to create a framework for companies to commit to earning digital trust.
\nThe Forum\u2019s Digital Trust Framework shows for the first time how commitment to cybersecurity, privacy, transparency, redressability, auditability, fairness, interoperability and safety \u2013 when taken together and driven by CEOs \u2013 can improve both citizen and consumer trust in technology and the companies that create and use new technologies. The Forum\u2019s report provides both a framework \u2013 with detailed goals and dimensions to support digital trust \u2013 and a roadmap for companies on how they can become more trustworthy in their use and development of technology.<\/p>\n

According to Jeremy Jurgens, Managing Director of the World Economic Forum and Head of the Centre for Cybersecurity, \u201cDeveloping trustworthy technologies is a decision \u2013 and responsibility \u2013 that rests with leaders across sectors and industries. The World Economic Forum\u2019s Digital Trust Framework will help to guide leaders in making decisions that cultivate more trustworthy and responsible technology.\u201d
\n\u201cThe most important decision we can make in the 21st century is whether we will work together to build trust or watch innovation fail. By focusing on the values and expectations of individuals, and by committing to security and reliability, accountability and oversight, and inclusive, ethical, and responsible use of technology, we can make the technology we develop more trustworthy,\u201d said Daniel Dobrygowski, Head of Governance and Trust, World Economic Forum.
\n\u201cImproving digital trust is vital for digital citizenship to flourish. The Forum\u2019s new Digital Trust Framework is an essential resource for making technology more trustworthy for individual consumers and citizens,\u201d said Nuala O\u2019Connor, Senior Vice-President, Chief Counsel, Digital Citizenship, Walmart.
\n\u201cDeploying trustworthy technology should be the goal of all organizations. The World Economic Forum\u2019s Digital Trust Framework is a helpful roadmap that will provide guidance to leaders in making decisions that advance technology in responsible ways. As part of the steering committee, I\u2019m grateful to contribute Microsoft\u2019s learnings from our journey aligning our efforts on the interconnected governance of privacy, digital safety and responsible AI. The resulting WEF Digital Trust Framework will help guide other organizations on their path to earn digital trust.\u201d said Julie Brill, Chief Privacy Officer, Corporate Vice President, Microsoft.
\n\u201cWithout trust in digital systems, the financial services ecosystem we have today could not exist. The Forum\u2019s Digital Trust Initiative is playing a critical role in helping to define what trust means in the digital world,\u201d said Ajay Bhalla, President, Cyber and Intelligence Solutions, Mastercard.
\n\u201cConsumer trust is built when companies put the essential needs and rights of their consumers first and foremost. As a representative of consumer advocates around the world, Consumers International is glad to be part of the Digital Trust Initiative calling for companies to inform and empower consumers,\u201d said Helena Leurent, Director-General of Consumers International, the membership organization for 200 consumer advocacy groups in over 100 countries including Consumer Reports, Which UK, CHOICE Australia, Consumer Voice (India), El Poder del Consumidor (Mexico), Hong Kong Consumer Council, Consommateur Maroc, Consumer Council of Zimbabwe and many more.
\n\u201cAt IKEA, trust is at the heart of everything we do. Whether it\u2019s in our products or trust in how we handle your data. Trust must be earned, and we see it as a collective effort. IKEA is a proud partner of the World Economic Forum\u2019s Digital Trust Initiative, and we look forward to contributing on creating a shared vision for digital trust between citizens, government, and organizations\u201d said Nozha Boujemaa, Global Vice President, Digital Ethics & Responsible AI, IKEA Retail (Ingka Group).
\n\u00abCustomers won’t do business with companies they don’t trust. At Salesforce, Trust is our #1 value, and we are empowering our customers to raise the bar for digital trust – building direct, trusted relations with their customers by ensuring sensitive data is stored, processed, and forgotten, if necessary, on their terms. The World Economic Forum’s Digital Trust Initiative is a valuable resource for any company looking to share that vision and build a trusted enterprise\u00bb said Vikram Rao, Chief Trust Officer, Salesforce.<\/p>\n

Above, image credited to the WEF<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The report provides a decision-making framework with tech leaders\u2019 commitment to security and reliability, accountability and oversight, and inclusive, ethical and responsible use of technology Digital trust is the expectation by individuals that digital technologies and services \u2013 and the organizations providing them \u2013 will protect all stakeholders\u2019 interests and uphold societal expectations and values, … <\/p>\n

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