McKinsey Digital report says that consumers value digital trust. The research indicates that organizations that are best positioned to build digital trust are also more likely than others to see annual growth rates.
A majority of consumers believe that the companies they do business with provide the foundational elements of digital trust, which McKinsey defines as confidence in an organization to protect consumer data, enact effective cybersecurity, offer trustworthy AI-powered products and services, and provide transparency around AI and data usage. However, most companies aren’t putting themselves in a position to live up to consumers’ expectations.
Consumers report that digital trust truly matters. They want companies to provide clear information about their AI and data practices, they expect rigorous data protections to be in place, and they will make purchase decisions based on these premises.
