APAC Organizations Consider Privacy a Business Imperative – Cisco

Cisco’s 2022 Data Privacy Benchmark Study* found that privacy is mission-critical, as 91% of respondents in Asia Pacific consider privacy a business imperative. The survey showed that privacy investment continues to rise and organizations see a high return on investments from privacy spending. 

Privacy has become a true business imperative and a critical component of customer trust for organizations around the world. Ninety-one percent of the respondents in Asia Pacific said they would not buy from an organization that does not properly protect its data, and 93% indicated that external privacy certifications are important in their buying process.   

“Privacy continues to grow in importance for organizations in Asia Pacific, with 96% of organizations in the region saying they are reporting one or more privacy-related metrics to their board, and privacy investment rising with an average budget increase of 18%,” explains Dave West, President, Asia Pacific, Japan, and Greater China, Cisco. At Cisco, we believe privacy is a fundamental human right, and we need security and transparency to protect it, so it is encouraging to see that organizations in Asia

As governments and organizations continue to demand further data protection, they are putting in place data localization requirements. Ninety-three percent of survey respondents in Asia Pacific said this has become an important issue for their organizations. But it comes at a price – across the region, 91% said that localization requirements are adding significant cost to their operation.   

Finally, when it comes to using data, 93% of survey respondents in Asia Pacific recognize that their organization has a responsibility to only use data in a responsible manner. Nearly as many (87%) believe they already have processes in place to ensure automated decision-making is done in accordance with customer expectations. Yet, Cisco’s 2021 Consumer Privacy Survey showed many individuals want more transparency and 56% of consumers surveyed globally are concerned about the use of data in AI and automated decision-making. Forty-six percent of consumers surveyed felt they cannot adequately protect their data, chiefly because they do not understand what organizations are collecting and doing with their data. 

“Cisco is committed to data privacy, including governance of emergent technologies such as artificial intelligence,” says Anurag Dhingra, Cisco Vice President and Chief Technology Officer, Collaboration. “We’re publishing the Responsible AI Framework as part of Cisco’s commitment to transparency and adaptability by establishing a governance process and concrete working practices for our development teams, including vital communication channels with our customers and constituencies. The framework defines clear principles in alignment with the values of our customers.” 

(This content is surmised from a press release)