{"id":35635,"date":"2019-06-19T13:09:49","date_gmt":"2019-06-19T05:09:49","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=35635"},"modified":"2019-06-19T22:41:51","modified_gmt":"2019-06-19T14:41:51","slug":"almost-3-out-of-5-local-consumers-dont-trust-digital-service-providers-says-microsoft-idc-asia-pacific","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2019\/06\/19\/almost-3-out-of-5-local-consumers-dont-trust-digital-service-providers-says-microsoft-idc-asia-pacific\/","title":{"rendered":"Almost 3 out of 5 local consumers don\u2019t trust digital services, says Microsoft-IDC Asia Pacific"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Philippine-based digital service providers should strengthen the five elements of trust \u2013 privacy, security, reliability, ethics, and compliance \u2013 to earn trust as almost three out of five local consumers don\u2019t trust digital services, according to a recent Microsoft-IDC Asia Pacific survey called \u201cUnderstanding Consumer Trust in Digital Services in Asia-Pacific\u201d.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This\ncame about as more digital services are offered in the market and more\nconsumers who embraced digitization are becoming more aware of cybersecurity\nrisks and threats to the privacy of their personal information.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Focused\nspecifically on consumer trust and Artificial Intelligence (AI), the study was\nconducted to over 6,300 participants in 14 countries in Asia to gather information\nabout consumer sentiments in the level of trust on digital services they\u2019re\ncurrently using. The Philippines is a survey participant with 454 consumer-respondents.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\nsurvey revealed that 44% or less than half of the total Filipino consumer-respondents\ntrust digital services they\u2019re using. As a result, more than half or 57% of\nconsumers would switch to another organization, while two out of five\nrespondents or 38% would reduce the use of digital services. Close to one-third\nor 31% of consumers would stop using the digital service altogether.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe\nupside for organizations with a trusted digital platform is tremendous as the\nPhilippines is one of the fastest growing digital services markets in Asia-Pacific,\u201d\nsaid Andres Ortola, country general manager at Microsoft Philippines. \u201cHowever,\ndespite consumers\u2019 increasing reliance on digital services, there is still a\nconsiderable trust gap that needs to be addressed. Most consumers still do not\nperceive organizations to be trusted data stewards.\u201d <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ortola\nadded that \u201cwe urge business leaders to do more to understand what drives\nconsumer trust and focus on how they can build trust and make it a key\ncompetitive advantage for their digital services.\u201d <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According\nto the study, Filipino consumers feel that all five elements of trust are\nalmost equally important to them, with privacy (93%), compliance (89%), and\nsecurity (87%) emerged as the top three most important. Consumers are also\nlooking forward to gain the highest trust from financial services institutions\n(FSI), followed by education institutions and healthcare organizations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For\norganizations that have embraced digital disruption, establishing a trusted\nplatform is of significant importance in their digital service strategy. The\nreport showed that establishing a trusted platform needs to be a priority in\norganizations\u2019 strategy for digital services as only six percent of consumers\nprefer to transact with an organization that offers a cheaper but less trusted\ndigital platform. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\nreport also revealed that 73% of consumers said they would recommend a trusted\ndigital service to others even if the cost is higher. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cTrust\nis critical for organizations to succeed in this digital world as consumers\noverwhelmingly prefer to transact with organizations with a trusted digital\nplatform,\u201d said Randy Roberts, IDC Philippines\u2019 head of operations. \u201cAs\ncompetition between digital services becomes more intense and global in nature,\nadvocacy through word of mouth can be a strong differentiator for the\norganization and a shot in the arm for the brand.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\nwas revealed that sectors responsible for fulfilling the five elements of trust\nwith their customers should not be limited to industry stakeholders alone but\nalso include the government and technology firms as well.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\nreport showed that 44% of respondents feel that the government is responsible to\ntake the lead in building trust, followed by technology companies at 35%,\nindicating the need for a stronger partnership between governments and\ntechnology firms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When\nit comes to fostering trust in AI technologies, 43% of consumers feel that\ntechnology companies and government (at 36%) should take the lead in ensuring\nthat AI is used in a trusted manner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to fostering trust in AI technologies, 43% of consumers feel that technology companies and government (at 36%) should take the lead in ensuring that AI is used in a trusted manner.<\/p>\n","protected":false},"author":4,"featured_media":35636,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,18],"tags":[3362,54,96],"class_list":["post-35635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","category-white-papers","tag-microsoft","tag-security","tag-technology"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/35635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=35635"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/35635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/35636"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=35635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=35635"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=35635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}