{"id":48090,"date":"2023-05-05T05:05:59","date_gmt":"2023-05-05T09:05:59","guid":{"rendered":"https:\/\/www.kaspersky.com\/blog\/?post_type=emagazine&#038;p=48090"},"modified":"2023-05-05T09:03:12","modified_gmt":"2023-05-05T13:03:12","slug":"insight-story-digital-trust","status":"publish","type":"emagazine","link":"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/insight-story-digital-trust\/48090\/","title":{"rendered":"Customers&#8217; trust in tech is changing. What should business do?"},"content":{"rendered":"<p>Of course, businesses need customer trust, but understanding what trust means in a digital world is becoming more important.<\/p>\n<p>Digital trust is users\u2019 confidence that tech, people and processes they engage with are secure and private. Recent research suggests <a href=\"https:\/\/iapp.org\/resources\/article\/privacy-and-consumer-trust-summary\/\" target=\"_blank\" rel=\"noopener nofollow\">how customers decide where to place their digital trust is changing<\/a>, so some businesses are changing their approach.<\/p>\n<p>As <a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/customer-trust-inside-out\/44713\/\" target=\"_blank\" rel=\"noopener nofollow\">Minter Dial wrote before in Secure Futures<\/a>, the 2022 Edelman Trust Barometer report shows eroding trust in institutions while remarkably, our trust in business remains. Now, there\u2019s an opportunity for business to use integrity, empathy, and privacy and ethics around new tech like artificial intelligence (AI) and customer relationships management (CRM,) to lead the way.<\/p>\n<p><a href=\"https:\/\/insight-story.podbean.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Kaspersky\u2019s new podcast, Insight Story<\/a><u>,<\/u> unpacks emerging tech trends with global specialists and businesses successfully using new tech. In Episode 4, I discuss what digital trust means and how organizations can grow it with M\u00fcge Fazlioglu (US,) Principal Researcher, <a href=\"https:\/\/iapp.org\/\" target=\"_blank\" rel=\"noopener nofollow\">International Association of Privacy Professionals (IAPP)<\/a>, Malek Ben Salem (US,) emerging tech security expert and Fabio Assolini, Head of Research in Latin America for Kaspersky\u2019s Global Research and Analysis Team.<\/p>\n<p><iframe style=\"border: none;min-width: min(100%, 430px)\" height=\"300\" scrolling=\"no\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=2rd5f-13df02e-pb&amp;from=pb6admin&amp;pbad=0&amp;square=1&amp;share=1&amp;download=1&amp;rtl=0&amp;fonts=Arial&amp;skin=1b1b1b&amp;font-color=auto&amp;logo_link=episode_page&amp;btn-skin=2baf9e&amp;size=300\" width=\"100%\"><\/iframe><\/p>\n<h2>Unpacking digital trust<\/h2>\n<p>Digital trust covers much ground, Malek Ben Salem says. \u201cIt\u2019s about data integrity, technology, people and processes. It\u2019s our confidence that our privacy is protected and secured, the reliability of digital transactions and how sure we are of the identities of those we engage with. It\u2019s also about how much we trust the information we get as users.\u201d<\/p>\n<p>M\u00fcge Fazlioglu says trust is notoriously hard to pin down. \u201cOur trust when we may or may not share data depends on many things, like our perception of the party we\u2019re sharing with, our data\u2019s value to them and us. We also weigh the data\u2019s sensitivity \u2013 what might happen if it were revealed.\u201d<\/p>\n<h2>Trust can make or break a purchase<\/h2>\n<p><a href=\"https:\/\/iapp.org\/resources\/article\/privacy-and-consumer-trust-summary\/\" target=\"_blank\" rel=\"noopener nofollow\">IAPP\u2019s March 2023 Privacy and Consumer Trust Report<\/a> shows privacy concerns influence consumer purchasing decisions. M\u00fcge says, \u201cMany people take steps to protect their privacy, like deleting an app or withholding some personal information.\u201d<\/p>\n<div id=\"attachment_48094\" style=\"width: 310px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-48094\" class=\"size-full wp-image-48094\" src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2023\/05\/05050214\/Muge-Fazlioglu.jpg\" alt=\"M\u00fcge Fazlioglu\" width=\"300\" height=\"300\"><p id=\"caption-attachment-48094\" class=\"wp-caption-text\">M\u00fcge Fazlioglu, Principal Researcher, International Association of Privacy Professionals<\/p><\/div>\n<blockquote><p>Consumers use privacy alongside quality and price to decide what to buy. They even back out of purchases if they have privacy concerns.<\/p>\n<cite><p>M\u00fcge Fazlioglu, Principal Researcher, International Association of Privacy Professionals (IAPP)<\/p><\/cite><\/blockquote>\n<p>So paying more attention to trust could pay dividends. \u201cOrganizations gain credibility by taking steps to enhance privacy and data protection. We\u2019re now seeing some big brands featuring privacy-related messaging in their advertising and marketing of web browsers and smart home devices,\u201d recounts M\u00fcge.<\/p>\n<p>Trust concerns also make brands hit the headlines for the wrong reasons. <a href=\"https:\/\/www.ft.com\/content\/b05a1260-ee5a-4ac8-9a34-31cdb8104cf1\" target=\"_blank\" rel=\"noopener nofollow\">Amazon\u2019s recent purchase of robot vacuum cleaner brand iRobot triggered privacy objections<\/a> from consumer and civil rights groups, then an EU investigation.<\/p>\n<h2>How companies help (and harm) trust<\/h2>\n<p>Tech research consultancy <a href=\"https:\/\/www.mckinsey.com\/capabilities\/quantumblack\/our-insights\/why-digital-trust-truly-matters\" target=\"_blank\" rel=\"noopener nofollow\">McKinsey\u2019s 2022 Digital Trust report<\/a> said while 70 percent of people trust companies to protect their privacy, most companies aren\u2019t living up to the expectation. So what should companies do?<\/p>\n<p>M\u00fcge says much best practice is around <a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/category\/transparency\/\" target=\"_blank\" rel=\"noopener nofollow\">transparency<\/a>. \u201cFew consumers have a good grasp of how companies use their information \u2013 what they collect, and if they follow good practice. So companies need to ensure they write a simple, clear privacy policy and have an easy-to-use page for people to manage their privacy settings.\u201d<\/p>\n<p>Regulators also think easy-to-adjust privacy settings matter. The US <a href=\"https:\/\/www.ftc.gov\/news-events\/news\/press-releases\/2022\/12\/fortnite-video-game-maker-epic-games-pay-more-half-billion-dollars-over-ftc-allegations\" target=\"_blank\" rel=\"noopener nofollow\">Federal Trade Commission (FTC) recently fined the company that makes the game Fortnite for its hard-to-use privacy settings<\/a>.<\/p>\n<p>M\u00fcge thinks regulators, businesses and consumers can all play a role in improving communication around privacy. \u201cHow a company communicates its data practices affects trust \u2013 the duty should not be on customers to make daily decisions based on lengthy and complicated legal agreements. Regulators have an important role in raising awareness and providing education. Some, like the FTC and European Union data protection authorities, are starting to do that.\u201d<\/p>\n<p>M\u00fcge also recommends being prepared for how you\u2019ll handle a data leak. \u201cResponding slowly means more consumer loyalty lost. Have an <a href=\"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/cyber-incidence-communication-response\/32379\/\" target=\"_blank\" rel=\"noopener nofollow\">incident response plan<\/a> for the inevitable.\u201d<\/p>\n<p>Data leaks are common but often have a big impact on business. <a href=\"https:\/\/usa.kaspersky.com\/about\/press-releases\/2023_kaspersky-research-finds-employee-negligence-now-equally-worrying-for-companies-as-cyber-attack-data-breaches\" target=\"_blank\" rel=\"noopener\">Kaspersky\u2019s 2022 IT Security Economics report<\/a> found that among 3,230 businesses surveyed, data leaks were the most commonly encountered security issue, with 55 percent considering them the most challenging incidents.<\/p>\n<p>Malek points to one business leading in digital trust. \u201c<a href=\"https:\/\/www.wired.com\/story\/apple-googles-ai-wizardry-promises-privacy-cost\/\" target=\"_blank\" rel=\"noopener nofollow\">Apple stands out in how it uses privacy-preserving technology to train artificial intelligence (AI)<\/a> on mobile phones. Devices keep data locally and use it to train user speech-recognition and auto-complete models. Then the models are used to update a central model that can be applied to many users. So the data is not shared or uploaded, but still used to improve the AI.\u201d<\/p>\n<h2>Using cybersecurity to build trust<\/h2>\n<p>29 percent of businesses with 500 to 999 employees have experienced a cybersecurity incident, according to Kaspersky\u2019s 2022 <a href=\"https:\/\/www.kaspersky.com\/blog\/smb-cyber-resilience-report-2022\/\" target=\"_blank\" rel=\"noopener nofollow\">Small-to-Medium Business Cyber Resilience report<\/a>. \u00a0As your business scales into a larger enterprise, so does the likelihood of a cyberattack or data leak.<\/p>\n<p>Malek thinks investing in cybersecurity is vital to protect customer trust. \u201cTo build secure infrastructure and allow for secure transactions, you need a cybersecurity strategy and proper governance, and you must hire the right talent. More importantly, be transparent.\u201d<\/p>\n<div id=\"attachment_48095\" style=\"width: 310px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-48095\" class=\"size-full wp-image-48095\" src=\"https:\/\/media.kasperskydaily.com\/wp-content\/uploads\/sites\/92\/2023\/05\/05050318\/malek-ben-salem.jpg\" alt=\"Malek Ben Salem\" width=\"300\" height=\"300\"><p id=\"caption-attachment-48095\" class=\"wp-caption-text\">Malek Ben Salem, emerging tech security expert<\/p><\/div>\n<blockquote><p>Tell your customers, investors and shareholders where you stand with security. Demonstrating your commitment to your policies will earn their trust.<\/p>\n<cite><p>Malek Ben Salem, emerging tech security expert<\/p><\/cite><\/blockquote>\n<p>Or, as M\u00fcge says, \u201cShine a bright light on what you\u2019re doing.\u201d<\/p>\n<p>New technologies are evolving cybersecurity\u2019s contribution to digital trust. Malek sees many applications of AI in security tech: \u201cIt helps identify who is accessing a system by profiling user behavior. It can detect and respond to security incidents. It can classify unstructured data like business documents, so we don\u2019t need people to read them to know what\u2019s sensitive or confidential.\u201d<\/p>\n<p>A relatively new approach to security, <a href=\"https:\/\/www.kaspersky.com\/resource-center\/definitions\/zero-trust\" target=\"_blank\" rel=\"noopener nofollow\">zero trust<\/a>, is influencing what we\u2019ll see next. \u201cPeople will own their full identity and use pieces as needed. For instance, if I want to buy something that requires proof of age, I can share just my age without information the seller doesn\u2019t need, like full birth date. Zero-trust principles mean allowing access only to the information needed.\u201d<\/p>\n<p>But Kaspersky\u2019s Fabio Assolini says businesses may not be able to adopt these good practices overnight. \u201cMany networks need adapting for zero-trust principles. It\u2019s a challenge for administrators, but it\u2019s important they understand how it works and prepare corporate networks for it.\u201d<\/p>\n<p>He also highlights the value of transparency, not just between businesses and customers, but between businesses and suppliers. \u201cYou must be able to trust your cybersecurity providers, especially as we\u2019re seeing many targeted attacks that abuse cybersecurity software or infrastructure. Security vendors could be more transparent about their technologies. At Kaspersky, we let customers review our code at <a href=\"https:\/\/www.kaspersky.com\/transparency-center\" target=\"_blank\" rel=\"noopener nofollow\">transparency centers<\/a>. We\u2019d like to see other companies doing that.\u201d<\/p>\n<p>He adds, \u201cTraining is also important. Sometimes cybercriminals send a phishing attack to just one employee, so it matters that each employee is trained in identifying attack attempts.\u201d<\/p>\n<div style=\"width: 180px\" class=\"wp-caption alignnone\"><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe class=\"youtube-player\" type=\"text\/html\" width=\"640\" height=\"390\" src=\"https:\/\/www.youtube.com\/embed\/-HShm77Izow?version=3&amp;rel=1&amp;fs=1&amp;showsearch=0&amp;showinfo=1&amp;iv_load_policy=1&amp;wmode=transparent\" frameborder=\"0\" allowfullscreen=\"true\"><\/iframe><\/span><p class=\"wp-caption-text\"> London Heathrow Airport uses targeted employee education to fight 'phishing' attacks<\/p><\/div>\n<p>Asked for one key recommendation for business in building digital trust, Malek says, consider cybersecurity part of your environmental, social and governance (ESG) framework because \u201cit elevates the discussion.\u201d<\/p>\n<p>M\u00fcge says, \u201cKeep in mind all the smart technology you use. It uses many different kinds of information. Use the privacy features and regularly monitor data sharing.\u201d<\/p>\n<p>Listen to the <a href=\"https:\/\/insight-story.podbean.com\/\" target=\"_blank\" rel=\"noopener nofollow\">full Insight Story audio series on Podbean or your usual podcast provider<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customers pay more attention to privacy in purchasing than many businesses realize. What can they do to be more trustworthy?<\/p>\n","protected":false},"author":2521,"featured_media":48091,"template":"","coauthors":[3452],"class_list":{"0":"post-48090","1":"emagazine","2":"type-emagazine","3":"status-publish","4":"has-post-thumbnail","6":"emagazine-category-cybersecurity-training-cybersecurity","7":"emagazine-category-data-and-privacy","8":"emagazine-category-transparency","9":"emagazine-tag-insight-story","10":"emagazine-tag-regulation","11":"emagazine-tag-zero-trust"},"hreflang":[{"hreflang":"x-default","url":"https:\/\/www.kaspersky.com\/blog\/secure-futures-magazine\/insight-story-digital-trust\/48090\/"},{"hreflang":"en-us","url":"https:\/\/usa.kaspersky.com\/blog\/secure-futures-magazine\/insight-story-digital-trust\/28242\/"}],"acf":[],"_links":{"self":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/emagazine\/48090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/emagazine"}],"about":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/types\/emagazine"}],"author":[{"embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/users\/2521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/media\/48091"}],"wp:attachment":[{"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/media?parent=48090"}],"wp:term":[{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.kaspersky.com\/blog\/wp-json\/wp\/v2\/coauthors?post=48090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}