"Consumers Want More Transparency on How Companies Manage Their Data"

Security researchers at Cisco recently published their 2022 Consumer Privacy Survey, an annual global review of consumers’ perceptions and behaviors on data privacy.  It highlights the critical need for further transparency as consumers say their top priority is for organizations to be more transparent on how to they use their personal data.  The researchers noted that the survey also showed that while, in theory, consumers are supportive of AI (with 54 percent willing to share their anonymized data to improve AI products), many (65 percent) have lost trust in organizations due to their use of AI.  This year, 81 percent of respondents agreed that how an organization treats personal data indicates how it views and respects its customers, the highest percentage since Cisco began tracking it in 2019.  The researchers also found that 76 percent of respondents said they would not buy from a company they do not trust with their data, and 37 percent indicated they had indeed switched providers over consumer data privacy practices.  More than half (53 percent) say they manage their cookie settings from a website before accepting, and 46 percent of those with a home listening device say they turn it off regularly to protect their privacy.  The researchers noted that while 87 percent of organizations believe they have processes in place to ensure automated decision-making is done in accordance with customer expectations, 60 percent of respondents expressed concern about how organizations are using their personal data for AI.   The researchers noted that some powerful steps organizations can take to address this include giving consumers the opportunity to opt out of the AI application and explain how their AI application works.

Help Net Security reports: "Consumers Want More Transparency on How Companies Manage Their Data"