Why DIGITAL TRUST has become the most critical technology concern.

We all know cybersecurity and privacy are becoming increasingly critical with digital transformation.

The sophisticated threats from new tactics like nation hacktivism have increased the overall risk and need for proactive cyber defence.

The expanded attack surface further complicates this by adopting cloud and hybrid ecosystems, OT and IoT, turning everything “smart"— “smart cities”, “smart campuses”, remote healthcare, etc.

Emerging technologies, such as AI, ChatGPT, blockchain, etc., are also being leveraged by bad actors in a way that can increase the intensity of an attack.

Threats straight out of science fiction have become real possibilities, and these have changed how end-users approach technology.

Imagine you are in a self-driving car in the middle of a running highway, and you get a call from a hacker that your car has been compromised. What would be the first question that comes to your mind? To check the audit and compliance of the car? Or why did you trust the car in the first place? The same questions apply to smart cities, smart homes, remote healthcare, space tourism, etc.

Hence, the need for "digital trust."

More than just focusing on standard cybersecurity and privacy practices, technology companies must create a sense of confidence for end users to trust digital services and devices.

Technology companies must include integrated risk management into all of their products to build digital trust. This means that risk management:

• Can be analysed and measured in real-time.
• Is factual (i.e., data-driven).
• Is validated continuously.
• Is automated versus dependent on humans, given today's sophisticated threat landscape.

How is digital trust different from standard cybersecurity and privacy?

While cybersecurity and privacy practices are more focused on the service's confidentiality, integrity and availability, digital trust involves building confidence in digital assets and emerging technologies.

How To Build Digital Trust

Given the ever-changing digital landscape, we have a lot of work ahead of us.

First and foremost, we need to understand, promote and prioritise the need for digital trust and create more awareness. We need a total mindset shift from standard cybersecurity measures to new ways of enabling digital trust.

Most organisations are relying on point-based solutions to fix specific issues, which generally result in siloed function rather than an integrated view.

The lack of integration in the overall cyber defence ecosystem leaves behind multiple blind spots that can be easily exploited by the bad actors.

With those challenges in mind, here are a few steps that organizations can take to foster and enable digital trust.

• Know your digital assets. Develop and manage asset inventory and attack surface best practices.
• Apply in-depth defence mechanisms. This should include multi-layer protection.
• Secure by design. At all layers, leverage modern-day architecture best practices, such as zero trust.
• Automate end-to-end security measures. As much as possible, automate NIST's "Five Functions:" identify, protect, detect, respond and recover.
• Train and enable the workforce. All relevant stakeholders should know the latest and the greatest threats and technologies.
• Do more than “check the box.” Standard audit and compliance will not be sufficient to enable digital trust. It can create a false perception of security, breaking digital trust if the security is ever breached.

Conclusion

Consumer adoption of any digital service from an organisation hinges on what organisations do to build confidence.

This requires responsible usage of emerging technologies, strong cybersecurity and data privacy practices and a digital trust-focused mindset throughout the organisation.

In fact, by creating confidence with end users through digital trust, organisations can build stronger relationships, making them more likely to thrive in today's environment.

Source = Forbes =

https://www.forbes.com/sites/forbestechcouncil/2023/06/27/why-digital-trust-has-become-the-most-critical-technology-concern/?sh=16b334903213