Global Tech Consultancy Urges Companies to Protect User Privacy or Face the Consequences

We are living in a day and age where technology is advancing so rapidly that it is borderline impossible for anyone to truly keep up with it without dedicating a significant amount of time and attention into what is currently happening all in all. This has made tech companies very wealthy indeed, so much so that their expansion and growth has been rather alarming for a lot of people, especially since it has created a whole new set of problems that need to be solved in order for the majority of the consumers in the world to feel safe and secure in their day to day lives.

One thing in particular that seems to be of a lot of concern to people is the issue of privacy in an increasingly tech driven world. Tech companies often need to access a lot of user data for the purposes of making it easier for them to earn as much money as possible, since this data has a tendency to be enormously useful in situations where the aforementioned companies need to take a closer look at consumer habits and better understand the various contexts in which they tend to be viewed.

While these big time tech companies may think that sacrificing user privacy is a necessary evil if they truly want to end up growing as much as possible, the fact of the matter is that this much growth needs to be sustainable as well and according to the Chief of Technology at Accenture, perhaps the most influential tech consultancy in the world right now, this is not a compromise that tech companies should be making if they genuinely want to be able to survive in the modern era given everything that has happened and how the average consumer tends to feel.
"While customers may be hungry for the benefits of personalization, they are starting to weigh them against the risks of data privacy and security. Sixty-six percent of consumer respondents are just as concerned about the commercial use of their personal data and online identity for personalization purposes as they are about security threats and hackers.", reveals report.
According to the CTO of Accenture Paul Daugherty, if corporations expect the average consumer to actually use their products then they need to place a great deal of importance in the kind of security and privacy that these consumers are offered on a regular basis. The reason for this is that if customers don’t feel safe while using these products, there is no incentive for them to try these products out in the first place and this is the sort of thing that could be detrimental to the future of tech in a really big way.

Hence, a compromise needs to be made where companies acquire data but still protect the liberties and information of their users so that these users know that the company whose services they are using is one their side.

Striking a balance with personalization
Source: Technology Vision 2020 Report: We, The Post-Digital People: Can your enterprise survive the 'tech-clash?

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