Digital trust increasingly important among Asia/Pacific organizations, IDC
According to a recent IDC report titled, IDC Asia/Pacific (Excluding Japan) Trust and Resilience Update, the topic of digital trust is becoming increasingly important. The report also found there is an increased emphasis on consumer faith in cybersecurity, data privacy, and responsible artificial intelligence (AI).
This IDC report explores how security technology buyers across Asia/Pacific* are addressing their digital trust concerns and challenges for 2023. This report also aims to help technology vendors better understand how macroeconomic factors are changing how organizations in the region view and deal with digital trust necessities.
“Trust, in its basic form, is a condition that enables decisions to be made between two or more entities with a level of confidence and quantifiable risk and subjective reputation for an exchange of mutual benefit to occur,’ says Christian Fam, Research Manager, Cybersecurity Services, IDC Asia/Pacific. “Yet, digital trust can only be borne out of transparency. To foster a trusted, long-lasting partnership, vendors must be transparent in validating and verifying the trustworthiness of their services, products, internal processes, and business operations,” added Fam.
At the foundational level, establishing trust and robust risk management processes are interlinked and interrelated so much that organizations in the region are heavily investing in creating trust throughout their organization, with their partners, and with their customers. According to IDC’s FutureScape : Worldwide Future of Trust 2022 Predictions – Asia/Pacific (excluding Japan) ( APeJ ) Implications, by 2026, 25% of APeJ organizations will replace net promoter score-like metrics with trust indices in request for proposals (RFPs) to align traditional security risk solutions with customer success, brand, and reputation.
At the aggregate level, erosion of trust is the biggest concern for organizations in the region , followed by financial loss, and reputational damage. But there is little consistency across the region regarding primary concern. Even though businesses are adopting more security solutions to counteract the evolving threat landscape, organizations continue to struggle with the frustration of managing disparate tools and chasing false positives. Without integration, security teams spend too much time making sense of data across the siloed tools and platforms, creating a hurdle for businesses wanting to establish trust, internally and externally.
“Digital trust is the confidence that users and customers have in the ability of people, process, and technology to create a secure digital world. With the rise in cybersecurity attacks, security hygiene, cyber resilience, and trust indices will be key demands from service partners,” ends Fam.
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