Thales Blog

Why 2018 Will Be The Trust Turning Point For The Digital Economy

January 4, 2018

We are in the midst of a digital revolution impacting every aspect of our everyday lives. At the center of the revolution is data, which is available in more forms, volume, depth and complexity since the beginnings of the computer revolution. Earlier this year, IDC predicted the world’s volume of data would expand to 163 zettabytes by 2025 – a tenfold rise in the total.

The value of this data has increased as well with consumers, enterprise, organizations and nation-states using data, personal information, proprietary information or analytics to their advantage. This revolution in the creation, transfer, storage and analysis of data has produced our new digital economy. Proof of this shift can be seen in the changed rankings of the world’s most valuable companies, but also in our everyday lives. Its fundamental and transferrable value is fueling the digital transformation that organizations of all sizes, in all industries and around the world are undergoing.

Why 2018 Will Be the Trust Turning Point for the Digital Economy

From cloud computing, to mobile devices to digital payments and the emerging applications of the IoT, organizations are re-shaping how they do business. Whether it be products and services or even entirely new business models, we are seeing rapid advances in new and disruptive technologies.

It’s extremely exciting to have a front row seat and to be an integral part to this seismic shift through Thales work to ensure data security. I’m struck not just by the business challenges and opportunities, but how digital transformation has changed and improved our daily lives and how Thales’ critical role in creating trust enables improved technological experiences available to more people every day.

Think about it. My guess is that, like me, data penetrates every aspect of your personal and professional life.

As a frequent traveler myself, I know most of us take for granted the ease of booking an airline ticket online and don’t give a moment’s thought to the expectation that it is easy, efficient and safe. But paying via credit or debit card launches a complex, automated and highly integrated process. The QR code of my eTicket scans quickly and easily. All throughout the process my data must be protected from cybercriminals intent on using it for fraudulent and illegal activity.

We now carry more computing power in our pockets with our mobile phones than NASA computers of the 1960s. These have spawned wholly new businesses such as ride sharing platforms. Standing at the steps of your hotel calling an Uber or Lyft requires the safe and secure creation, sharing and storage of personal and payment data.

While riding to your next meeting you may pre-order a coffee from your Starbucks app, delighted by the ease of payment, and potential to add loyalty points as well as how it speeds the pick-up. You’re more inclined to remain a lifelong customer through the frictionless convenience and impressed by the technological advances a coffee company (albeit a very successful global one) has leveraged.

Through this digital transformation, businesses are trying to improve their relationship with you and customize it, leveraging mobile, cloud computing and even artificial intelligence technology to make it more convenient, tailored and customized and encourage you to buy more and more often.

But to do that you must believe that the data is going to be protected and that the organization is protecting you – and that requires secure infrastructure and encryption.

Coupled with this bond of trust being built between users and organizations leveraging digital transformation is the growing complexity of regulation around the world. The balance between a rush to market for emerging technologies as well as increased business and consumer concern around data security, means companies must constantly maintain compliance without losing out on the massive benefits of innovation.

I know first-hand that operating any business in today’s data economy is inspiring, but not for the faint of heart. At the end of the day, our job at Thales is to help organizations protect themselves and their customers from the diverse array of malicious actors whether nation states, cyber activists, insider threats or increasingly sophisticated cyber criminals. We know it starts with the fuel of data, the underlying information that enables innovation and will empower companies to continue to realize their potential.

As Thales continues to be on the leading edge of the digital revolution, working with our customers and partners to transform our collective digital future, it’s a true honor to be entrusted with leading this world-class organization. I look forward not only to our own ongoing growth and success in 2018, but also to contributing to yours!

Please feel free to leave me a comment below on what you’re looking forward to in 2018. You can also find me at @CindyProvin

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