Intelligent CIO Europe Issue 63 | Page 26

The study finds a significant disconnect between data privacy measures by companies and what consumers expect from organisations .
also said the top approach for making them more comfortable would be to provide opportunities for them to opt out of AI-based solutions . Yet , the privacy benchmark shows providing opt-out opportunities was selected least ( 22 %) among the options organisations would put in place to reassure consumers .
“ When it comes to earning and building trust , compliance is not enough ,” said Harvey Jang , Cisco
Vice President and Chief Privacy Officer . “ Transparency was the top priority for consumers ( 39 %) to trust companies , whilst organisations surveyed felt compliance was the number one priority for building customer trust ( 30 %).”
Even though 96 % of organisations believe they have processes in place to meet the responsible and ethical standards that customers expect for AI-based solutions and services , 92 % of respondents believe their organisation needs to do more to reassure customers about their data .
Privacy ’ s return on investment
Over 70 % of organisations surveyed indicated they were getting ‘ significant ’ or ‘ very significant ’ benefits from privacy investments , such as building trust with customers , reducing sales delays , or mitigating losses from data breaches . On average ,
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