What does Digital Trust mean?
Digital Trust is the expectation by individuals that digital technologies and services – and the organizations providing them – will protect all stakeholders’ interests and uphold societal expectations and values.
Source: WEF / KPMG – Earning Digital Trust: Decision-Making for Trustworthy Technologies, 2022
The formula for Digital Trust
Why does Digital Trust matter?
Digital technologies play a significant role in our daily lives, influencing and facilitating nearly all economic, social, and institutional activities. Building trust in these technologies is crucial for attracting and retaining customers who use our products and services, thus expanding our customer base.
Trust also plays a vital role in fostering the long-term adoption of sustainable technology. In today's world, where digital technologies are essential for various aspects of business, social interactions, and growth, the most critical choice an organization can make is to ensure the trustworthiness of these technologies. Areas such as artificial intelligence, cloud services, data privacy, data governance and quality as well as data management are becoming increasingly important.
Your company needs to get future-proof and ready to tackle the challenges around it.
The building blocks of Digital Trust
KPMG, in partnership with The World Economic Forum, has designed a digital trust framework. This framework outlines common principles and criteria for assessing the reliability of digital technologies. It serves as a valuable tool for top-level decision-makers when they are thinking about developing, using, or applying digital technologies and services.
Because trust is a mutual concept, the framework focuses on actions that organizations can take to gain the trust of the people who use or are impacted by digital technology as well as artificial intelligence.
How to build and establish Digital Trust with your customers
The above-mentioned framework (see also illustration on the right) sets out three goals that your company needs to consider in order to build and establish trustworthiness in digital technologies, products and services.
These three goals include: 1. Security and reliability 2. Accountability and oversight 3. Inclusive, ethical and responsible use.
In order to get to these goals you need to take the necessary measures that are tailored and specific to your business in the following areas:
- Transparency
- Redressability
- Auditability
- Fairness
- Interoperability
- Safety
- Cybersecurity
- Privacy
Our expertise and how we can support you
Our team of experts assists you in the following areas that are highly relevant to digital trust: topics and questions surrounding cloud computing, AI technologies, data compliance and governance as well as artificial intelligence certification.
Our services are always tailored to your specific needs.
Trusted Cloud
We help you
- understand and address the operational risks of cloud computing, cybersecurity, data privacy/governance and compliance risks related to your cloud solutions and environments.
- implement effective cloud governance structures and organizational and technical requirements to mitigate risks when migrating to the cloud and operating business in your cloud environment.
- demonstrate and ensure trust in your cloud infrastructure.
Trusted AI
We help you
- identify and mitigate the risks of your Artificial Intelligence applications and solutions.
- implement a governance framework to develop and operate trustworthy AI applications and solutions.
- understand and comply with regulatory requirements and standards such as the EU AI Act, ISO/IEC 42001, ISO/IEC 24027, ISO/IEC 24028, ISO/IEC 24029.
Trusted Data
We help you
- unlock the true value of your data quality while ensuring it is stored securely (data protection), reliable, compliant and future-proof.
- de-risk and secure your data and how you analyse and process it.
- assess and demonstrate compliance with relevant regulations and laws in Switzerland.
- implement a data governance framework and controls to manage your data quality and trustworthiness.
- manage your data, be in line with your data compliance, laws and regulations.
Artificial Intelligence Certification
We help you
- demonstrate compliance and trustworthiness in your artificial intelligence applications and certify your company and applications against the ISO/IEC 42001 standard.
- deliver trustworthy cloud services by certifying your company against the ISO/IEC 27017 and ISO/IEC 27018.
- certifications against further regulations and standards, see more here: Certification Services - KPMG Switzerland
Contact our experts
Our team is here to guide you. Contact us to discuss your needs.
