IDC FutureScape: Top 10 predictions for the future of trust
International Data Corporation’s (IDC) top 10 predictions for the Future of Trust point to a new normal as the world continues to navigate the impact of the COVID-19 pandemic. Organizations – private sector, government, and educational institutions – have reached a digital transformation tipping point and are aggressively embracing digital-first strategies.
Data security, confidentiality, integrity, and availability are now key issues for all organizations, as is the imperative to use data ethically while complying with a complex web of industry and regional regulations. Organizations must also recognize – and be sensitive to – practices that pose risks to the environment and humanity. The sense of urgency is building on proactive delivery of all the elements of Trust – risk, compliance, security, privacy, and social environmental responsibility and ethics.
“Organizations’ futures are built on Trust and that is evident in IDC’s top 10 Future of Trust predictions,” said Amita Potnis, research director, Future of Trust at IDC. “Leveraging available security capabilities, adhering to privacy and data protection, increasing focus on environmental sustainability and social impact, addressing regulatory compliance, and stringently following a governance model that extends to business partners and suppliers will become integral to uplifting trust as a means of competitive differentiation.”
IDC’s Future of Trust top 10 predictions provide guidance to business leaders as they navigate the changes ahead:
Prediction 1: By 2025, 35% of organizations will replace Net Promoter Score-like metrics with Trust Indices in RFPs to align traditional security and risk solutions with customer success, brand, and reputation.
Prediction 2: By 2026, 40% of global enterprises will incorporate cyber resiliency planning in response to trans-national sanctions against countries that neglect overseas illegal cyber-activities of their citizens.
Prediction 3: By 2023, 25% of G2000 public cloud customers will subscribe to integrated risk management and cyber insurance policies through shared fate risk programs to protect against sophisticated cyberattacks.
Prediction 4: By 2023, 55% of organizations will allocate half of their security budgets to cross-technology ecosystems/platforms designed for rapid consumption and unified security capabilities to drive agile innovation.
Prediction 5: By 2023, 20% of IT buyers with IT environments that span disparate locations, clouds, remote workers, and devices will turn to network security as a service to ensure consistent protection.
Prediction 6: By 2023, 80% of organizations faced with complex global regulations will increase security compliance automation investment by 25% to ensure all policies and regulations are met consistently.
Prediction 7: By 2022, 33% of digital platforms will appoint resident compliance officers to limit liability from criminal penalties imposed by evolving regulations related to negative social impact of misinformation.
Prediction 8: By 2026, 30% of organizations will commit to short, mid, and long-term sustainability objectives that span 10+ years with assured funding from stakeholders despite change of personnel during this time.
Prediction 9: To prepare for future disruption while maintaining supplier sustainability mandates, 35% of organizations will prioritize supply chain resiliency and responsible sourcing by 2024.
Prediction 10: By 2025, 25% of the Fortune Global 500 will employ blockchain-enabled Customer Data Tokens (CDT) and Basic Attention Tokens (BAT) to compensate customers for the gathering and use of their data.
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