Is Value Offered By Smart Devices Enough To Overcome Privacy Fears?
Much of the discussion at the recent Fortune Global Forum in Paris revolved around the privacy and security risks of data-heavy business models, but some are less worried than others. Tiger Tyagarajan, the Genpact CEO, was of the opinion that classifying data is the worst possible action to take. While he and the others do hold trust as a key entity in purchase and sales, he feels that the world is shifting towards a data-centric aspect regardless.
Yannick Fierling, the CEO of the European unit of Haier, feels that the users are already experiencing the advantages of connected devices and the value they provide. The value and convenience these devices offer are currently more than the fear of potentially being hacked. The question here is how long will this scenario last?
Puppet is an IT automation firm whose CEO, Yvonne Wassenaar, says that software vulnerabilities are increasing at a rate where the fixes are not done swiftly enough.
“We’re at a risk of creating a lot of mistrust in technology,” Wassenaar said. “We’ve over-rotated to the shiny new toy.”
However, he also said that AI would soon evolve to a level where it could help software developers fix issues. Recent research suggests that as much as 28% of consumers avoided smart device purchases due to fear of security and privacy breaches.
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