Chief Trust Officer: Trust, look who!

Chief Trust Officer: Trust, look who!

2022 could be the year of the Chief Trust Officer. According to Forrester, companies need to do more to earn the trust of customers, partners and their own workforce. […]

Without the trust of customers, employees and partners, companies would have no chance of success even with promising digital initiatives, says Jinan Budge, principal analyst at Forrester. That is why it is so important that the companies deal with the major topics of ecological sustainability and diversity & inclusion. Digital technologies could provide an important lever to address these issues appropriately. However, factors such as empathy, integrity, responsibility and transparency played an even more decisive role. In order to score points here, the companies need the trust of all parties involved.

However, getting this and keeping it for the long term is not easy. “Smart leaders know that trust is not a buzzword and does not come about by chance,” says Forrester analyst Budge. Their forecast is that companies will take more measures to build and maintain trust in 2022.

For example, many companies would employ a chief trust officer who reports to the CEO and works closely with other top managers. The responsibilities would initially extend to technology, risk management, governance and executive consulting, but would soon also include aspects such as brand strategy and corporate values.

Artificial intelligence is also a question of trust: many companies will spend a lot of effort to uncover and eliminate discriminatory effects in AI algorithms. Twitter set up a program for this last year, and companies such as Google and Microsoft could follow in 2022.

The number of companies committing to ambitious climate targets will multiply in the near future. For companies, it is also a matter of maintaining their reputation in terms of sustainability in view of the changing consumer sentiment, the demands of investors, the activism of their own employees and the regulatory framework.

*Martin Bayer: Special field of business software: Business Intelligence, Big Data, CRM, ECM and ERP; supervision of news and title sections in the print edition of COMPUTERWOCHE.

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