NEEDHAM, Mass.–(BUSINESS WIRE)–#Compliance–With the growing prevalence of cloud-based services greater volumes of data are being collected and analyzed, driving the need for more automation to provide insights into the data as well as artificial intelligence innovations that promise to alleviate pain points experienced by organizations and their customers.
At the same time, as cyberthreats increase in number and sophistication, consumers are more aware of and sensitive to data breaches. Privacy by Design principles are being re-evaluated as customers become more curious and cautious about how their personal information is used. And, while rules and regulations regarding where and how data is stored and transmitted are changing, businesses recognize that their customers cannot tolerate disruptions to the digital infrastructures that undergird their work and daily lives. All this uncertainty is prompting organizations to turn to “the certainty of data.”
“The relationship between data-driven insight and trust is cyclical,” said Grace Trinidad, research director Future of Trust at IDC. “Customers confer trust onto organizations that transparently share data-driven insights, but trust is a prerequisite to overcome consumer reluctance to share the personal data required to generate high-quality organizational insight.”
In its top 10 Future of Trust predictions, IDC sees the thread of data-driven insight running through privacy, security, compliance, risk, and environmental, social, and governance (ESG) – the elements comprising the Framework of Trust.
IDC’s top 10 predictions for the Future of Trust 2022 are:
Prediction 1: By 2026, 30% of large enterprise organizations will migrate to autonomous security operations centers accessed by distributed teams for faster remediation, incident management, and response.
Prediction 2: By 2024, 35% of organizations will employ a privacy engineer to operationalize Privacy by Design principles into IT systems, processes, and product development strategy.
Prediction 3: By 2024, 30% of heavily regulated organizations will adopt confidential computing technologies to combine and enrich sensitive data critical to multiparty compute applications while preserving privacy.
Prediction 4: By the end of 2024, 65% of major enterprises will mandate data sovereignty controls from their cloud service providers to adhere to data protection and privacy regulatory requirements.
Prediction 5: By 2026, driven by steep regulatory growth, talent gap, and cost efficiency measures, 40% of organizations will invest in compliance-as-a-service offerings to meet their regulatory mandates.
Prediction 6: By 2027, 60% of G2000 companies will adopt continuous risk assessments over annual security audits, leveraging service providers to limit the burden of policies, practices, and technical debt.
Prediction 7: By 2025, the SEC will publish standards for cyber-risk scoring, and publicly traded companies will be required to update and report this score on an annual basis.
Prediction 8: By 2024, 30% of organizations will advance their ESG metrics and data management beyond reporting capabilities to generate sustainably driven cost and competitive advantages.
Prediction 9: By 2024, 75% of large enterprise firms will implement purpose-specific ESG data management and reporting software as a response to emerging legislation and increased stakeholder expectations.
Prediction 10: By 2025, 45% of CEOs, fatigued by security spending without predictable ROI, will demand security metrics and results measurement to assess and validate investments made in their security program.
IDC’s Future of Trust predictions are presented in full detail in the report, IDC FutureScape: Worldwide Future of Trust 2023 Predictions (IDC #US49755022). Copies of this report are available to qualified members of the media.
An on-demand replay of IDC’s Worldwide Future of Trust 2023 Predictions webcast will be available as one of more than 40 FutureScape webinars that will address the CIO Agenda, Digital Business, Artificial Intelligence, Cloud, Sustainable Strategies and Technologies, and a range of industry-specific and Future of X topics. To register for any of these webinars, please visit: www.idc.com/futurescape2023.
About IDC FutureScape
IDC FutureScape presents information about technologies, markets, and ecosystems that help decision makers to better understand future trends and their impacts on the enterprise. They also present guidance on complex, fast-moving environments and offer prescriptive, actionable recommendations. Every year, IDC identifies the key external drivers that will influence businesses in the coming years. An IDC FutureScape establishes 10 predictions derived from these drivers, analyzes the impacts on the IT organization, and proposes recommendations for the next five years. To learn more about IDC FutureScape, please visit: www.idc.com/futurescape2023.
About IDC’s Future of Trust Practice
IDC’s Future of Trust research practice helps organizations expand their understanding of trust and its importance to success in the new digital economy. Customers want to know that the companies they do business with are authentic and trustworthy. Businesses, in turn, need to demonstrate their authenticity and trustworthiness through their technology solutions. To learn more about IDC’s Future of Trust research practice, please visit https://www.idc.com/promo/future-of-x/trust.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.