News Summary:
- The Cisco 2022 Consumer Privacy Survey reveals that consumers
want more transparency on how their personal data is used and
protected.
- Consumers are supportive of Artificial Intelligence (AI) but
are concerned about how businesses use AI; 65 percent have lost
trust in organizations due to their AI use.
- Consumers around the world are increasingly taking action to
protect their data.
- Consumers want their government to take a leading role in
protecting privacy, and 61 percent feel laws have a positive
impact.
SAN
JOSE, Calif., Oct. 11,
2022 /CNW/ -- Cisco published its 2022 Consumer
Privacy Survey*, an annual global review of consumers' perceptions
and behaviors on data privacy. This year's survey highlights the
critical need for further transparency as consumers say their top
priority is for organizations to be more transparent on how they
use their personal data. 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.
"Organizations need to explain their data practices in simple
terms and make them readily available so that customers and users
can understand what is going on with their data. It is not just
legally required; trust depends on it," says Harvey Jang, Cisco Vice President, Deputy
General Counsel and Chief Privacy Officer.
This year, 81 percent of respondents agreed that the way an
organization treats personal data is indicative of how it views and
respects its customers – the highest percentage since Cisco began
tracking it in 2019.
Consumers Are Increasingly Taking Action
In response to the erosion of trust in organizations' ability to
protect data, many consumers are taking action to better protect
their data themselves including:
- 76 percent say they would not buy from a company who they do
not trust with their data
- 37 percent indicated they had indeed switched providers over
data privacy practices
- 53 percent say they manage their cookie settings from a website
before accepting
- 46 percent of those with a home listening device say they turn
it off regularly to protect their privacy
Disconnect Between Business and Consumers When It Comes to
AI
Ever-evolving technologies make it difficult for consumers to
trust companies with their data. Most respondents believe the
potential benefits of AI outweigh the risk, provided proper
de-identification is in place, with 54 percent willing to share
their anonymized personal data to help improve AI-based products
and decision-making.
However, there is a disconnect between businesses and consumers:
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. 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.
Desire for Government to Play a Primary Role
Finally, more than half said national or local government should
play the primary role when it comes to protecting consumers
data. Many consumers do not trust private companies to be
responsible with personal data on their own accord.
As governments and organizations continue to demand protections
on data transferred outside their national borders, more are
putting in place data localization requirements, demanding data to
be physically stored in the country or region where it was
collected. Yet data localization comes at a price. The Cisco 2022
Data Privacy Benchmark Study reported that 88 percent of
surveyed organizations experience significant additional
operational costs due to data localization. Consumers are evenly
split on the value of data localization (41 percent in favor, 41
percent against) if it adds cost to the products and services they
buy.
"We hope that the insights from this survey will motivate
organizations to continue to prioritize their customers' desire for
security, privacy, and transparency," said Brad Arkin, Cisco Senior Vice President, Chief
Security and Trust Officer.
Additional resources:
- 2022 Cisco Consumer Privacy survey (PDF)
- Infographic
- Cisco Newsroom: A business imperative: building trust around
data
- Blog by Robert Waitman
- 2022 Cisco Data Privacy Benchmark
- Cisco Trust Center
- Cisco Security Report Series
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide leader in
technology that powers the Internet. Cisco inspires new
possibilities by reimagining your applications, securing your data,
transforming your infrastructure, and empowering your
teams for a global and inclusive future. Discover more
on The Newsroom and follow us on Twitter
at @Cisco.
Cisco and the Cisco logo are trademarks or registered trademarks
of Cisco and/or its affiliates in the U.S. and other countries. A
listing of Cisco's trademarks can be found
at www.cisco.com/go/trademarks.
*Anonymous survey analyzing the responses of 2,600 adults in
12 countries (Australia,
Brazil, China, France, Germany, India, Italy,
Japan, Mexico, Spain, the UK, and the U.S.) where the
respondents did not know who was conducting the study and
individual respondents were similarly unknown to the
researchers.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/consumers-want-more-transparency-on-how-businesses-handle-their-data-new-cisco-survey-shows-301645691.html
SOURCE Cisco