- Growing worries around trust issues could derail digital transformation efforts and damage a company’s brand.
- Adopting a responsible approach to technology can address these challenges and even set a company apart from its competitors.
- To achieve that, businesses will need to tackle six key areas: consumer privacy, cybersecurity, data integrity, responsible AI, secure employment, and safe transactions.
Technology has become so pervasive it’s hard to imagine a world without it. But as we’ve become more reliant on the apps, social networks, and systems that power our personal and working lives, questions abound as to whether we should trust it. For example, consumers may worry their data isn’t being kept safe and secure, while employees may fear they’ll be automated out of a job. And just about everyone is wondering whether the AI baked into so many products and services is making decisions in a fair and ethical way.
It’s a complicated set of issues, one that will be the focus of this week’s PwC Responsible Technology Exchange in the US. Business, technology and government leaders will candidly discuss the role of individual companies and greater society in addressing the challenges that threaten to limit technology’s potential. They will explore— just as all executives should — what it means to practice ‘responsible technology.’ How do you capitalize on mature and emerging tech while giving deep thought to data governance, AI bias, and workforce displacement? How do you safeguard employee and customer data, while also protecting intellectual property? How do you stay ahead of, and comply with, increasing and differing regulations? And, finally, what are the competitive advantages to taking proactive measures on these issues?
Such a robust dialogue points to the growing realisation that no single group can successfully tackle such a formidable challenge. Ultimately, trusted technology is a shared responsibility among business, government, and Big Tech. Stay tuned for key takeaways from the Exchange that can point the way forward for any company.