Trust is the foundation of tomorrow's digital enterprise. PwC combines Digital, Risk and Technology expertise to solve trust issues between companies and customers
If the lifeblood of the digital economy is data, its heart is Digital Trust - the level of confidence in people, processes and technology to build a secure digital world. Companies, regulators and consumers need fresh mechanisms to build confidence as they address emerging challenges in business, risk management and compliance.
In response, PwC provides Digital Trust solutions to help enterprises capture the most opportunity from digital development while managing the risks of regulatory compliance, information leakage, asset theft and business interruption in the digital era. We help you win trust from customers, partners, investors and other stakeholders, ultimately enhancing market competitiveness and consolidating your position in the industry.
Our reliance on technology to enable day to day activities has skyrocketed; we check into flights on-line, access hotel rooms with our mobiles, do online banking. We don’t really think about it until something goes wrong. In the past, companies could be forgiven for occasional system interruptions. Not anymore. With so much of our lives dependent on technology, the ability to “keep the lights on” is becoming a business imperative.
But organisations are challenged by the complexity of the IT services, with layers of infrastructure and multiple service and process interdependencies. And they face the increasing frequency and sophistication of cyber attacks. You need a holistic view of the IT landscape and all your risks, and design the right governance and risk management processes to better manage the risk.
Preparedness for threats and disruptions is one aspect of Digital Resilience. But your ability to effectively respond to a crisis will greatly influence the level of trust and ultimately your resilience in an ever-changing world.
Organisations are leveraging emerging technologies to drive improved business performance and in certain cases disrupt entire industries. In this race, businesses expose their organisation to new risks, requiring them to rethink their strategy, governance and architecture. Many organisations are exploring the use of disruptive technologies such as Artificial Intelligence, Robotic Process Automation, Blockchain, and Drones. In order to adopt and scale, each of these technologies present a unique set of challenges for the enterprise to consider.
At PwC we provide specialist advice, insight and assurance to help your organisation accelerate innovation and maintain control when enabled by emerging technology.
To what extent should data be gathered, analysed and used? The digital revolution has given companies the technologies to collect enormous amounts to data about consumers and employees. It's also provided the analytical capabilities to realise just how much personal information companies are collecting a using. However, as they become more informed, managing and protecting privacy and data use will become an important barometer of how much companies are trusted by their wider stakeholders.
As the privacy debate is reframed by digital disruption, organisations must look at which direction and to what extent they evolve their information governance strategies and capabilities, and ensure that the mechanisms chosen to balance competing interests are ones that balance competing interests that generate trust and confidence amongst your stakeholders and in the general public.
Cyber security is growing in importance as we shift more core societal functions online and we connect more of our physical life to the internet. On a micro level the risk could come from hackers taking control of our connected cars, or extracting data from our public connected mobile devices. Then there's the potential of global cyber warfare targeting energy or security infrastructure, commercial assets or transport, with your business or supply chain caught in the middle.
As cyber security threats increase it’s likely that governments will seek to access. Monitor and control even more of our personal data. The same will no doubt be true of companies as they seek to protect their vast databases of consumer and employee information along with their digital operations from bad actors. What will governments and companies need to to in order to regain the trust of an increasingly sceptical public that’s demanding more control over their data?
Thomas Wittische
Director, IT Risk & Resilience and Crisis Management Lead, PwC Luxembourg
Tel: +352 62133 41 81
