Trust will play crucial role in hyper-digital world: Industry experts

Our Bureau Mumbai | Updated on February 19, 2021 Published on February 19, 2021

As the Indian technology industry gains momentum in its hyper-digital journey, talent, transparency, and trust gain prominence for systematic growth

“It is important for companies to look at privacy and data security as an issue beyond compliance but actually looking at it as a differentiator and a competitive advantage,” said Rupa Kudva, Partner and Managing Director at Omidyar Network, while speaking in a panel discussing how to sustain trust in technology at Nasscom’s Technology and Leadership Forum 2021.

“As far as responsible data sharing is concerned the onus has to shift from over-reliance on the use of informed consent by users to quality assurance by providers” Kudva added.

The panel also discussed the need for a framework and guidelines to ensure that technological innovation does not outpace and overtake human wellbeing.

“Do we really expect with the pace of change that is happening, any regulation….by any government, to actually keep pace with an industry that is changing so fast?” asked Rekha M Menon, Chairperson, Accenture India, and Vice-Chairperson, Nascomm. Menon also raised questions on whether the government or the industry should take accountability in the formulation of said framework.

According to Kris Gopalakrishnan, Chairman, Axilor Ventures, the industry needs to create standards around trust in technology, data privacy. “Companies should be audited to the adherence of these standards” Gopalakrishnan continued.

Ajit Mohan, Managing Director, Facebook India said: “Pace of innovation is increasing, and you don’t want to stifle it...for me, the answer lies in-- can you look into the past and come with enough specific things where frameworks are already clear while leaving the canvas open for things that are not yet clear.”

Kudva also said: “It is important to build trust for the next half billion of the Indian population that are yet to come online. These are the people who come from the bottom 60 per cent of the income distribution using the internet for the first time. Companies need to enable them to use the internet to improve their lives.”

In order to do so, Kudva stressed the need to reimagine the internet, to make it more contextual and relatable. “It is also very crucial to protect this section of the population from fraud and loss of data because such incidences can materially set them back….and then getting them back online requires disproportionate efforts,” said Kudva.

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Published on February 19, 2021
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