Facebook with its fair share of data security scandals and the government’s past of secretly monitoring of citizens’ communication. Who does US citizens trust more with their data?
Survey makes clear that privacy and data transparency continues to be a primary concern for consumer trust. 81% of the respondents said that the way a company treats personal data is a reflection of its attitude toward and level of respect for its customers.
In the US, the uptick in fraud has decreased consumer trust in brands and the digital services they use. 36% of US consumers have experienced a combined share of online fraud and personal online breaches, and only 33% of consumers saying they can trust the digital services they use.
A new study reveals that the more humanlike a virtual assistant appears to be, the more consumer trust is placed in the device, which raises fresh concerns around Big Tech and data protection.
Poor corporate data responsibility hurts consumer trust, preventing users from sharing data because of privacy and safety concerns as organizations stepped up data collection.
With consumer awareness of privacy at an all time high, there is not only regulatory risk, but also reputational and brand risk for those CMOs who drop the ball – an increasingly likely occurrence as the changes to the familiar status quo mount.
Business leaders around the world are reconfiguring their strategies to prioritize data protection and management. As the world becomes increasingly digitally connected, dependence on cyber safety and consumer trust only becomes more important. Technology continues to develop in complexity, as do our methods to mediate it, but it’s imperative that we don’t forget the human side of risk, too.