A recent report summary produced by the Organisation for Economic Cooperation and Development (‘OECD’) highlighted that many countries are placing too much emphasis on developing their digital economies and are neglecting the privacy of individuals as a result. Drawing from surveys undertaken in most of the OECD’s 34 member countries, the OECD found that two-thirds of survey respondents are more concerned about their online privacy than they were last year and believe countries are not putting enough investment into dealing with these concerns.
Sophisticated technology offers numerous opportunities for individuals but also is very capable of causing disruption of, and intrusion to, their privacy. As Andrew Wyckoff, an OECD representative, emphasised, with the arrival of ‘big data’ and the Internet of Things, digital economies evolve so quickly that digital privacy and security must catch up. It is easy to talk about the potential that a growing digital industry offers a country’s economy, but investment and growth will only occur if consumers trust the technology enough to engage with it. Privacy and security are crucial to this.
Continue Reading Consumer Trust should be at the heart of the Digital Economy