Digital trust is a necessity in a world where digital technologies support and mediate virtually all economic transactions, social connections and institutions. At the same this trust is significantly eroding on a global scale.
In order to reverse this trend, leaders and organisations creating and implementing new technologies and digital services must make decisions that are worthy of trust.
According to the latest Edelman Trust Barometer 73 per cent of global respondents worry about their data privacy; worry about cybersecurity and worry that tech will make it impossible to know if what they are seeing or hearing is real, and in developed economies, where trust in the tech sector is lower, only ten per cent of respondents are among the first to adopt new technologies.
The only way to reverse this trend is for technology developers and owners, those whose innovations mediate so many social interactions and underpin so many shared institutions, to commit to earning the trust of end-users, consumers and citizens.
In a bid to solve the digital trust challenge, the World Economic Forum has launched the global Digital Trust Framework saying ‘Digital trust is a necessity in a world where digital technologies support and mediate virtually all economic transactions, social connections and institutions. At the same, this trust is significantly eroding on a global scale. In order to reverse this trend, leaders and organisations creating and implementing new technologies and digital services must make decisions that are worthy of trust.’
The framework builds on early advocacy for cybersecurity, responsible technology governance and digital trust and guides leaders in making decisions that cultivate more trustworthy and responsible technology.
The framework defines shared goals or values that inform the concept of digital trust, including: Security and reliability; Accountability and oversight and Inclusive, ethical and responsible use.
The framework also defines dimensions against which the trustworthiness of digital technologies can be operationalised and evaluated, including Cybersecurity; Safety; Transparency; Interoperability; Auditability; Redressability; Fairness and Privacy.
Stakeholders involved in the development of trustworthy technology are encouraged to prioritise cybersecurity, including cyber resilience and security-by-design, and responsibility in technology use including privacy protection, ethical and values-driven innovation, transparency and accountability.
Trust is the key to unlocking greater cooperation, widespread adoption and equal benefits from new technologies. Individuals and governments are increasingly demanding that the companies who develop and deploy new technologies and digital services respect the values and expectations of the society in which they operate – and withhold their confidence and support for those who do not