The Value of Trust in Data

SkydivingThroughout the millennia, the concepts of ‘trust’ and ‘data’ (information) have been fundamental to human relationships and most of the economic, geopolitical and military events that have shaped the course of history. The hyper-connected nature of global commerce and the disruptive nature of digital technology has given both of these concepts further prominence.

Enabled by the exponential rise in data, companies and governments alike are creating new markets and business models, as well as unearthing fresh insights that can be used to unlock huge economic and societal value — from helping to address global diseases to managing the global economy more efficiently. The same can be said of trust, which has been described as the ‘kingmaker’ as businesses search for a formula for sustainable, long term value.

It is, therefore, unsurprising that our research has identified qualitative and quantitative evidence that trust in data has value, and that there is a clear commercial case for ethical conduct around data.

Accelerated interest in artificial intelligence means that individuals and businesses will need to understand the ethics, risks and impacts of what’s being unleashed. In our video series Managing the Risks of AIDr. Cindy Gordon, CEO and Founder of SalesChoice, and Cathy Cobey, a partner at EY, have come together to explore the rise of AI and the impacts it has on everyday business decisions.

At EY, we are continuing with a number of related research and development projects through which we intend to help pave the way for greater progress in this area. Our Digital Law team can help identifying digital risk areas and meet the legal challenges in following areas: Digital Data Privacy and Cybersecurity, Digital Intellectual Property (IP) Law, Digital Regulatory Law, and Digital e-Commerce Law.

Originally published on EY.com

EY Legal Services Contacts:

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Peter Katko –  Global Digital Law Leader

 

 

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Fabrice Naftalski  – Global Data Privacy Law Leader