Consumer exposure to digital incidents is significantly increasing, driving a disconnect between consumer and organisation confidence in digital use.
Is digital transformation happening too fast for consumers, or are the priorities and processes organisations put in place to protect consumers against digital risks going unseen?
Our Global Digital Risk Survey 2022 'See the Unseen' explores everything from autonomous vehicles and banking apps, to customer services and fake content, to identify what business leaders should prioritise, and the vitality of an organisation-wide approach to build confidence in digital technologies.
Responding effectively to this digital confidence gap requires answering key questions
Chapter 1 - People v technology - who’s in control?
The confidence disparity between consumers and organisations could indicate a dilemma balancing commercial digital strategies with what consumers are comfortable with.
We explored 26 use cases of digital technology to understand how an equilibrium could be reached.
Digital control is paramount; people are happiest using technology when they feel that they are ultimately in control of it. The more that the human actor has the authority to override or cancel a digital process, the more confident they are.
Chapter 2 - Consumer experience - the biggest digital risk to your business?
While 72% of consumers have experienced an adverse digital incident in the last year, the majority did not relate to issues with the technology, and instead concerned problems with the interaction between humans and technology.
The most prevalent issue was customer services being unable to help the consumer with a problem, experienced by 23% of participants. The failure to provide human support is seen as more annoying than technology failure itself.
Chapter 3 - Business leaders feel in control, but are they?
75% of business leaders are confident in their ability to deliver on their responsibilities when it comes to identifying and managing digital risks.
However, when asked how mature their organisations were across a spectrum of core digital risk capabilities, more than a third of business leaders (34%-39% depending on capability) acknowledged that they were either not mature, still scoping, or had simply not considered the risks.
The repercussions of digital incidents reinforce the need of a cross firm approach. What priorities do you need to be aware of and how can you address them with confidence? Select your role below to find out more.