Maintaining trust key challenge for Asia-Pacific firms

Data security, confidentiality, integrity, and availability are now key issues for all organizations, as is the imperative to use data ethically while complying with a complex web of industry and regional regulations and by 2023, 80% of APEJ organizations faced with complex global regulations will increase security compliance automation investment by 15% to ensure all policies and regulations are met consistently, according to the report shared by IDC.

Further, organizations must also recognize – and be sensitive to – practices that pose risks to the environment and humanity. The sense of urgency is building on proactive delivery of all the elements of Trust – risk, compliance, security, privacy, and social environmental responsibility and ethics.

By 2026, 20 per cent of Asia-Pacific enterprises (excluding Japan) will incorporate cyber-resiliency planning in response to transnational sanctions against countries that neglect overseas illegal cyber-activities of their citizens.

"Asia/Pacific organisations understand the importance of integrating trust as part of their future strategic plans. While building trust is essential, maintaining positive trust levels is the key challenge for Asia/Pacific organisations," said Jeff Xie, Senior Market Analyst for Security and Trust Research, IDC Asia/Pacific.

By 2023, 20 percent of the largest public cloud customers in the region will subscribe to integrated risk management and cyber-insurance policies through shared fate/risk programs to protect against sophisticated cyberattacks.

While by the same time period, 33 percent of digital platforms will appoint resident compliance officers to limit liability from criminal penalties imposed by evolving regulations related to the negative social impact of misinformation.

“Managing the various elements of Trust creates trust outcomes that go beyond the individual entities and Asia/Pacific organisations that leverage these predictions positively can gain a competitive advantage,” Xie added.

By 2025, 10 percent of the largest 500 organisations in the region will employ blockchain-enabled customer data tokens and basic attention tokens to compensate customers for the gathering and use of their data said the IDC report.