“Cyber incidents can disrupt business operations, cause customer loss, damage reputations and generate significant regulatory costs.”
Private companies and government agencies that were not born digital are inevitably undergoing a phase of digitalization and the use of innovations. These processes are essential for economic and social development in the 21st century.
For the technological revolution to be even more powerful and improve people's lives, it is necessary to build digital trust (digital trust), supported by the tripod: cybersecurity, protection of personal data and ethical and responsible artificial intelligence.
Historically, companies have invested in digital compliance out of concerns about legal compliance, security, cyber incidents, and fear of sanctions. However, with digital transformation and increased awareness of individuals’ rights, organizations are beginning to see compliance as a driver of responsible innovation:
- Legal data governance provides legal security so that business areas, such as marketing, technology and innovation, can have the legal and privacy areas as strong allies in the development of innovative, responsible and secure solutions;
- If data is the currency of the digital economy and the most powerful companies in the world are those that hold the largest quantity, variety and processing capacity of data, data ethics and responsible AI are essential for customers to trust organizations with the use of their data;
- The use of Artificial Intelligence in an ethical, safe and transparent manner, considering aspects such as privacy, equality, non-discrimination and social responsibility, allows promoting innovation without compromising fundamental rights, minimizing risks and negative impacts and respecting current legislation;
- Digital trust stands out as an integral part of the ESG agenda, alongside integrity and anti-corruption programs, environmental responsibility, inclusion, diversity and well-being at work;
- Cyber incidents can disrupt business operations, cause loss of customers, damage reputation and generate significant regulatory costs, in addition to negatively impacting share prices. In this context, prevention, security and response capacity are essential elements for the survival and competitiveness of companies, and are considered organizational and strategic agendas;
- The protection of personal data, including in digital media, is a fundamental right and guarantee, alongside freedom of expression, privacy, private life, honor and image of individuals. Organizations need to understand the depth of this right and include it in their corporate values.
Between agents who are motivated to comply with regulatory objectives based on principles and social responsibility and those who do so based on economic calculations, the ethical, safe and responsible processing of data is significant for both from the perspective of market trust, return on investment and the cost of potential violations.
We must move beyond digital first and towards digital trust. Cybersecurity, personal data protection and the ethical and responsible use of AI are fundamental to responsible business innovation.
Rony Vainzof He is a founding partner of VLK Advogados, Director of FIESP and Data Protection Consultant at Fecomercio/SP.
Signed articles reflect the opinion of the authors.
