IDC has released its top ten Future of Trust predictions, which looks ahead and highlights anticipated changes in the area of data protection and privacy. 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 cyber threats 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’, says IDC.
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 percent of large enterprise organizations will migrate to autonomous security operations centers / centres accessed by distributed teams for faster remediation, incident management, and response.
Prediction 2: By 2024, 35 percent 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 percent 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 percent 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 percent of organizations will invest in compliance-as-a-service offerings to meet their regulatory mandates.
Prediction 6: By 2027, 60 percent 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 percent 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 percent 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 percent 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).