Trust is a precious commodity

As humans and technology become more entwined, it’s wise to be cautious about where we place our trust. Indeed, trust has become a key business differentiator. How do we know? Because across the C-suite, 81% of executives view security, assurance, and trust as a brand attribute that actually sets their organization apart.

While leaders recognize the importance of trust, though, they struggle to gain and sustain it. Only 55% of CEOs are confident in their organization’s ability to accurately and completely report the information stakeholders demand for data security and privacy.

The struggle is evident among consumers as well. For example, only 20% of consumers trust corporations regarding sustainability, down from roughly 50% in 2021.

Yet when choosing a brand, 90% of consumers say trust is the biggest deciding factor.

2024: Machine intelligence brings trust front and centre

A year can spur a trend, cement one, or end it unexpectedly. In 2008, mortgages and housing led to the global financial crisis. In 2020, a global pandemic took an unimaginable number of human lives and cost the global economy more than $12 trillion.5 And in 2023, generative AI changed the nature— and face—of work, causing many people to question the security of their jobs. While trust is always important, it becomes more so during massive disruptions such as these.

Our research shows that 2024 will be the year when business leaders need to balance technology and trust. Of course, building trust in every aspect of an organization is not a new concept. But it’s become more challenging with generative AI, global uncertainty, intensifying competition, and the continued rise of ecosystems.

1. Organizations move from “plus AI” to AI plus.
2. People who use AI will replace people who don’t.
3. The data conversation moves out of IT, into the C-suite.
4. Operating models bend so they don’t break.
5. Ecosystems are not part of the strategy, they are the strategy.