A common definition of trust is the belief in the reliability, truth, ability, or strength of someone or something. In business, it means someone believes that you made good faith efforts to behave in accordance with any commitments, either explicit or implicit. They believe you to be a reliable partner that will fulfill your commitments in a truthful, ethical manner, safeguard their privacy, and take care to ensure security and safety.
How do you know whether to trust someone? And how can they know to trust you? In a digital business scenario, this becomes exponentially more complicated. The "you" or "someone" can be represented by a large number of algorithms, that "you" or that "someone" doesn’t always directly control. For that reason, trust is essential for a CIO to understand and prioritize, and digital trust has emerged to address the radically changed requirements of agency, scope and spontaneity needed in a volatile digital business world.