Affidavits fail cyberbullying
By 2023, 25% of organizations will require employees to sign affidavits to avoid cyberbullying, but 70% of these initiatives will fail.
In an attempt to curb workplace cyberbullying, enterprises will strengthen workplace codes of conduct and require employees to sign affidavits of agreement. However, cyberbullying isn’t eradicated by agreements — that requires a shift in organizational culture. Companies should begin to train employees to recognize and report cyberbullying.
Diversity drives financial targets
Through 2022, 75% of organizations with frontline decision-making teams reflecting a diverse and inclusive culture will exceed their financial targets.
Companies understand the benefits of diversity, but must now move toward a focus on different types of diversity (e.g., thought processes and work styles) and a deliberate focus on inclusivity. These policies should be co-developed by business and HR leaders.
Personal data poisons blockchain
By 2022, 75% of public blockchains will suffer “privacy poisoning” — inserted personal data that renders the blockchain noncompliant with privacy laws.
With the steep learning curve associated with blockchain technology, developers are at risk for accidentally storing personal data in a noncompliant way. Because blockchains are immutable, personal data can’t be deleted without compromising chain integrity. However, continuing to store personal data violates privacy legislation. Establish privacy-by-design principles at the onset of the blockchain architecture, including a ban on free text, where personal data would be stored.
Read more: The CIO’s Guide to Blockchain
Privacy laws cripple ad sales
By 2023, e-privacy regulations will increase online costs by minimizing the use of “cookies,” thus crippling the current internet ad revenue machine.
As legislation to protect consumers’ data becomes more prevalent, it will impede the current internet advertising infrastructure and its major players. Traditionally, companies use consumer data via cookies to personalize and direct ads, but GDPR and e-privacy laws require informed consent of how that information will be used and possibly sold.
Cloud spawns new products
Through 2022, a fast path to digital will be converting internal capabilities to external revenue-generating products using cloud economics and flexibility.
Historically, internal IT teams looking to market unique capabilities haven’t been able to for economic, technical and marketing reasons. However, cloud infrastructure and cloud service providers solve many of these challenges. Supporting scale is the cloud provider's responsibility, the app store markets the app, and cloud tools make support and enhancement easier. As companies begin to see digital revenue from marketing internal tools, others will follow suit.
Gatekeepers gain market share
By 2022, companies leveraging the “gatekeeper” position of the digital giants will capture 40% global market share on average in their industry.
In 2019, the digital giants will deliver double-digit revenue growth by attracting more users globally and supporting more usage. These companies control vast economic ecosystems. With increasing connections and users, they are poised to gain even more market share.
Consumers ignore security breaches
Through 2021, social media scandals and security breaches will have effectively zero lasting consumer impact.
The benefits of using technology will outweigh security and privacy concerns. People generally feel technology companies should be regulated, but despite recent security breaches, most continue using digital services and companies make very limited changes in the wake of an event.