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The 11 Principles of Trust
How to Create Business
Value Through Trust
Trust is a
universal concept
The 11 Principles of Trust 2
The 11 Principles of Trust 3
It applies
not only to
people,
places,
and things...
...but also to companies, products,
and services across all industries.
The 11 Principles of Trust 4
It’s particularly
relevant today for
technology and
software
companies.
The 11 Principles of Trust 5
Many of whom are under
increased scrutiny for their
data practices.
The 11 Principles of Trust 6
The 11 Principles of Trust 7
And because data has
become the lifeblood of
modern business...
…it’s critical that customers, partners
and regulators trust you to
protect their information.
The 11 Principles of Trust 8
Are there any software
companies that you would
voluntarily trust to protect your
most intimate personal details?
The 11 P...
Do you actually trust them to
protect your information?
The 11 Principles of Trust 10
Or are their services so integral to your life
that you feel you have no other choice?
The 11 Principles of Trust 11
The 11 Principles of Trust 12
In fact, many of us have
resigned ourselves to
sharing data even though
we feel increasingly...
Trust is particularly
important for
companies using
machine learning
and artificial
intelligence (AI).
The 11 Principles o...
It allows them to access
the data required to fuel
machine learning models.
The 11 Principles of Trust 14
The 11 Principles of Trust 15
However, AI also presents new
challenges for trust.
The 11 Principles of Trust 16
privacy,
security,
reliability,
bias, and
transparency.
In particular around
Heightened awareness of these issues
presents an opportunity for software
companies to differentiate on trust.
The 11 Prin...
We believe that
customers will
increasingly
demand that
companies operate
fairly and
transparently.
The 11 Principles of T...
The 11 Principles of Trust 19
In terms of how they
treat customers,
employees, and
partners...
The 11 Principles of Trust 20
…and society
as a whole…
The 11 Principles of Trust 21
The opportunity
is to use trust to
differentiate in
your market.
Our principles provide a
guide to building trust with
your customers.
The 11 Principles of Trust 22
But first, let’s define trust.
The 11 Principles of Trust 23
Trust is the balance between the
value that you deliver and the
comfort that customers experience
when interacting with yo...
Value is your core business
proposition – why customers
use your product.
The 11 Principles of Trust 25
Drivers of value include:
Improved forecasting and analytics
Improved product quality
Cost and time savings
The 11 Princip...
Comfort is peace of
mind for your
customers — knowing
that using your
product won’t cause
problems for them.
The 11 Princi...
Drivers of comfort include:
Reliability and stability
Responsible and secure data handling
Transparent business practices
...
The 11 Principles of Trust 29
When you provide value and comfort,
you’ll get happy customers who
promote your brand.
The 11 Principles of Trust 30
When value and
comfort are out of
sync, trust gets
eroded and
customers leave.
You can use the following
principles to increase trust in
your organization.
The 11 Principles of Trust 31
Create new value
through trust.
1 The 11 Principles of Trust 32
Avoid taking a
‘compliance is
enough’ approach.
The 11 Principles of Trust 33
Instead, look for opportunities to
create new value for your
customers and for the company.
The 11 Principles of Trust 34
Find out what your customers
value, and what it takes to make
them comfortable.
The 11 Principles of Trust 35
The 11 Principles of Trust 36
Then plan the steps to reach trust.
This will be your trust roadmap.
Customers that
trust you will share
more data, allowing
you to enhance
your products and
provide more value.
The 11 Princi...
Build trust into
your culture.
2 The 11 Principles of Trust 38
Everyone should
understand how they
can help build trust,
starting at the top.
The 11 Principles of Trust 39
In particular,
responsibilities
around
customer data.
The 11 Principles of Trust 40
The 11 Principles of Trust 41
Communicate how
you handle data
clearly and publicly.
Design resilient
systems to reduce the
impact of an attack.
3 The 11 Principles of Trust 42
The 11 Principles of Trust 43
Breaches will happen,
so design your systems
to compartmentalize
damage from attackers.
Don’t just focus on
software systems, think
about business
processes that might be
attacked as well
(e.g. financial proces...
The 11 Principles of Trust 45
3 approaches have been shown to help:
The principle of least authority
Decentralization
Redu...
Construct a rapid
remediation plan and
practice using it.
4 The 11 Principles of Trust 46
When a security or
privacy compromise is
discovered, follow your
well practiced incident
response plan.
The 11 Principles ...
The 11 Principles of Trust 48
And ensure you notify affected
customers immediately.
Providing timely remediation is
essential to protect your brand
and retain customer trust.
The 11 Principles of Trust 49
The 11 Principles of Trust 50
Effective plans
cover both the
common
scenarios and
outliers.
Understand customer
and regulatory
privacy requirements.
5 The 11 Principles of Trust 51
First, consider whether
you need personal or
other sensitive data to
deliver value.
The 11 Principles of Trust 52
The 11 Principles of Trust 53
Then assess your data sources,
including partners and suppliers.
And be mindful of how your
data management practices
can impact customers.
The 11 Principles of Trust 54
Adapt your approach to
meet the requirements
of different jurisdictions
as required.
The 11 Principles of Trust 55
Give customers
control and oversight
over their data.
6 The 11 Principles of Trust 56
Software companies have
traditionally assumed broad rights
through their privacy policies.
The 11 Principles of Trust 57
This approach is
no longer
compatible with
privacy legislation
or building trust.
The 11 Principles of Trust 58
Drive the conversation
on consent and
acknowledge that
ownership remains
with the customer.
The 11 Principles of Trust 59
Be transparent.
The 11 Principles of Trust 60
Give users visibility into the personal
data you’re capturing and storing, a...
The 11 Principles of Trust 61
Encourage
engagement
through relevant,
timely prompts and
adjustable settings.
Root out bias.
7 The 11 Principles of Trust 62
Discrimination
in all forms is
under increasing
scrutiny.
The 11 Principles of Trust 63
Human bias and
algorithmic bias are
both challenges for
AI companies.
The 11 Principles of Trust 64
The 11 Principles of Trust 65
Reduce human bias by addressing
individual, team, and organizational
tendencies to act on ju...
The 11 Principles of Trust 66
Ask questions throughout the
development process to
reduce technological bias.
Problem definition:
are there groups who
could be unfairly impacted?
The 11 Principles of Trust 67
The 11 Principles of Trust 68
Collecting training data:
do sampling methods lead
to overrepresentation of
certain segments?
Model training:
can performance
be optimized for
each segment?
The 11 Principles of Trust 69
Ongoing:
does our governance
process account for
changes to input data
or model weights?
The 11 Principles of Trust 70
Develop a fair model
for value exchange.
8 The 11 Principles of Trust 71
The 11 Principles of Trust 72
Customers will
increasingly
gravitate towards
business models
that are
quantitatively and
qu...
The 11 Principles of Trust 73
Think carefully about what you need
from your customers (e.g. data) and
what you will offer ...
As relationships
deepen and you
collect more data,
ensure that you
provide more
value in return.
The 11 Principles of Trus...
The 11 Principles of Trust 75
If customers are getting insufficient
value from the product, issues of
comfort will be more...
And trust will be eroded.
The 11 Principles of Trust 76
Make trust
measurable.
9 The 11 Principles of Trust 77
The 11 Principles of Trust 78
Set objectives for the value
and comfort you deliver for
each aspect of trust.
Track what you do,
what you achieve, and
your level of customer trust.
The 11 Principles of Trust 79
What you achieve
includes how
accurately models
perform and how
quickly customer
requests are
fulfilled.
The 11 Principles...
Measure customer trust through
ROI case studies and surveys on
your trustworthiness.
The 11 Principles of Trust 81
Anticipate the
unexpected.
10 The 11 Principles of Trust 82
Things will go wrong.
When they do, make
sure you’re well-
positioned to minimize
the impact.
The 11 Principles of Trust 83
Threshold / upper limit
Track system performance
metrics and set thresholds to
quickly find the root cause.
The 11 Princip...
Design systems
so they
automatically
enter recovery
mode and send
alerts when
thresholds are
exceeded.
The 11 Principles o...
Look at product
usage data and
customer feedback
to track and respond
to common issues.
The 11 Principles of Trust 86
Explain yourself.
11 The 11 Principles of Trust 87
The 11 Principles of Trust 88
Make your systems, policies,
procedures, and products
more explainable.
The 11 Principles of Trust 89
Start by understanding your
buyers’ and users’ expectations.
Use what you’ve learnt
to provide relevant
information in your
product to help your
users make decisions.
The 11 Principles of Trust 91
And finally,
communicate
your efforts to
customers and
partners.
Remember:
The questions surrounding AI are
complex, so revisit your thinking
and be prepared to discuss and
adapt your sta...
The 11 Principles of Trust:
Create new value through trust.
Build trust into your culture.
Design resilient systems to red...
Want to dive
in deeper?
Download our
11 Principles of Trust
white paper.
The 11 Principles of Trust 94
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The 11 Principles of Trust - How to Create Business Value Through Trust

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When data is the lifeblood of your business, it’s critical that customers, partners and regulators trust you to protect their information. Companies that build trust will enjoy deeper, longer-lasting customer relationships. Those who don’t face risks as customers increasingly question whether they should trust their providers with their data. Georgian Partners has developed a framework to help SaaS AI companies to build trust with their customers, presented here in The 11 Principles of Trust.

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The 11 Principles of Trust - How to Create Business Value Through Trust

  1. 1. The 11 Principles of Trust How to Create Business Value Through Trust
  2. 2. Trust is a universal concept The 11 Principles of Trust 2
  3. 3. The 11 Principles of Trust 3 It applies not only to people, places, and things...
  4. 4. ...but also to companies, products, and services across all industries. The 11 Principles of Trust 4
  5. 5. It’s particularly relevant today for technology and software companies. The 11 Principles of Trust 5
  6. 6. Many of whom are under increased scrutiny for their data practices. The 11 Principles of Trust 6
  7. 7. The 11 Principles of Trust 7 And because data has become the lifeblood of modern business...
  8. 8. …it’s critical that customers, partners and regulators trust you to protect their information. The 11 Principles of Trust 8
  9. 9. Are there any software companies that you would voluntarily trust to protect your most intimate personal details? The 11 Principles of Trust 9
  10. 10. Do you actually trust them to protect your information? The 11 Principles of Trust 10
  11. 11. Or are their services so integral to your life that you feel you have no other choice? The 11 Principles of Trust 11
  12. 12. The 11 Principles of Trust 12 In fact, many of us have resigned ourselves to sharing data even though we feel increasingly uncomfortable about it.
  13. 13. Trust is particularly important for companies using machine learning and artificial intelligence (AI). The 11 Principles of Trust 13
  14. 14. It allows them to access the data required to fuel machine learning models. The 11 Principles of Trust 14
  15. 15. The 11 Principles of Trust 15 However, AI also presents new challenges for trust.
  16. 16. The 11 Principles of Trust 16 privacy, security, reliability, bias, and transparency. In particular around
  17. 17. Heightened awareness of these issues presents an opportunity for software companies to differentiate on trust. The 11 Principles of Trust 17
  18. 18. We believe that customers will increasingly demand that companies operate fairly and transparently. The 11 Principles of Trust 18
  19. 19. The 11 Principles of Trust 19 In terms of how they treat customers, employees, and partners...
  20. 20. The 11 Principles of Trust 20 …and society as a whole…
  21. 21. The 11 Principles of Trust 21 The opportunity is to use trust to differentiate in your market.
  22. 22. Our principles provide a guide to building trust with your customers. The 11 Principles of Trust 22
  23. 23. But first, let’s define trust. The 11 Principles of Trust 23
  24. 24. Trust is the balance between the value that you deliver and the comfort that customers experience when interacting with your company, brand and products. The 11 Principles of Trust 24
  25. 25. Value is your core business proposition – why customers use your product. The 11 Principles of Trust 25
  26. 26. Drivers of value include: Improved forecasting and analytics Improved product quality Cost and time savings The 11 Principles of Trust 26
  27. 27. Comfort is peace of mind for your customers — knowing that using your product won’t cause problems for them. The 11 Principles of Trust 27
  28. 28. Drivers of comfort include: Reliability and stability Responsible and secure data handling Transparent business practices The 11 Principles of Trust 28
  29. 29. The 11 Principles of Trust 29 When you provide value and comfort, you’ll get happy customers who promote your brand.
  30. 30. The 11 Principles of Trust 30 When value and comfort are out of sync, trust gets eroded and customers leave.
  31. 31. You can use the following principles to increase trust in your organization. The 11 Principles of Trust 31
  32. 32. Create new value through trust. 1 The 11 Principles of Trust 32
  33. 33. Avoid taking a ‘compliance is enough’ approach. The 11 Principles of Trust 33
  34. 34. Instead, look for opportunities to create new value for your customers and for the company. The 11 Principles of Trust 34
  35. 35. Find out what your customers value, and what it takes to make them comfortable. The 11 Principles of Trust 35
  36. 36. The 11 Principles of Trust 36 Then plan the steps to reach trust. This will be your trust roadmap.
  37. 37. Customers that trust you will share more data, allowing you to enhance your products and provide more value. The 11 Principles of Trust 37
  38. 38. Build trust into your culture. 2 The 11 Principles of Trust 38
  39. 39. Everyone should understand how they can help build trust, starting at the top. The 11 Principles of Trust 39
  40. 40. In particular, responsibilities around customer data. The 11 Principles of Trust 40
  41. 41. The 11 Principles of Trust 41 Communicate how you handle data clearly and publicly.
  42. 42. Design resilient systems to reduce the impact of an attack. 3 The 11 Principles of Trust 42
  43. 43. The 11 Principles of Trust 43 Breaches will happen, so design your systems to compartmentalize damage from attackers.
  44. 44. Don’t just focus on software systems, think about business processes that might be attacked as well (e.g. financial processes) The 11 Principles of Trust 44
  45. 45. The 11 Principles of Trust 45 3 approaches have been shown to help: The principle of least authority Decentralization Redundancy
  46. 46. Construct a rapid remediation plan and practice using it. 4 The 11 Principles of Trust 46
  47. 47. When a security or privacy compromise is discovered, follow your well practiced incident response plan. The 11 Principles of Trust 47
  48. 48. The 11 Principles of Trust 48 And ensure you notify affected customers immediately.
  49. 49. Providing timely remediation is essential to protect your brand and retain customer trust. The 11 Principles of Trust 49
  50. 50. The 11 Principles of Trust 50 Effective plans cover both the common scenarios and outliers.
  51. 51. Understand customer and regulatory privacy requirements. 5 The 11 Principles of Trust 51
  52. 52. First, consider whether you need personal or other sensitive data to deliver value. The 11 Principles of Trust 52
  53. 53. The 11 Principles of Trust 53 Then assess your data sources, including partners and suppliers.
  54. 54. And be mindful of how your data management practices can impact customers. The 11 Principles of Trust 54
  55. 55. Adapt your approach to meet the requirements of different jurisdictions as required. The 11 Principles of Trust 55
  56. 56. Give customers control and oversight over their data. 6 The 11 Principles of Trust 56
  57. 57. Software companies have traditionally assumed broad rights through their privacy policies. The 11 Principles of Trust 57
  58. 58. This approach is no longer compatible with privacy legislation or building trust. The 11 Principles of Trust 58
  59. 59. Drive the conversation on consent and acknowledge that ownership remains with the customer. The 11 Principles of Trust 59
  60. 60. Be transparent. The 11 Principles of Trust 60 Give users visibility into the personal data you’re capturing and storing, and give them control over that data.
  61. 61. The 11 Principles of Trust 61 Encourage engagement through relevant, timely prompts and adjustable settings.
  62. 62. Root out bias. 7 The 11 Principles of Trust 62
  63. 63. Discrimination in all forms is under increasing scrutiny. The 11 Principles of Trust 63
  64. 64. Human bias and algorithmic bias are both challenges for AI companies. The 11 Principles of Trust 64
  65. 65. The 11 Principles of Trust 65 Reduce human bias by addressing individual, team, and organizational tendencies to act on judgment alone, without using data.
  66. 66. The 11 Principles of Trust 66 Ask questions throughout the development process to reduce technological bias.
  67. 67. Problem definition: are there groups who could be unfairly impacted? The 11 Principles of Trust 67
  68. 68. The 11 Principles of Trust 68 Collecting training data: do sampling methods lead to overrepresentation of certain segments?
  69. 69. Model training: can performance be optimized for each segment? The 11 Principles of Trust 69
  70. 70. Ongoing: does our governance process account for changes to input data or model weights? The 11 Principles of Trust 70
  71. 71. Develop a fair model for value exchange. 8 The 11 Principles of Trust 71
  72. 72. The 11 Principles of Trust 72 Customers will increasingly gravitate towards business models that are quantitatively and qualitatively fair.
  73. 73. The 11 Principles of Trust 73 Think carefully about what you need from your customers (e.g. data) and what you will offer to your customers in exchange (e.g. insights).
  74. 74. As relationships deepen and you collect more data, ensure that you provide more value in return. The 11 Principles of Trust 74
  75. 75. The 11 Principles of Trust 75 If customers are getting insufficient value from the product, issues of comfort will be more acute.
  76. 76. And trust will be eroded. The 11 Principles of Trust 76
  77. 77. Make trust measurable. 9 The 11 Principles of Trust 77
  78. 78. The 11 Principles of Trust 78 Set objectives for the value and comfort you deliver for each aspect of trust.
  79. 79. Track what you do, what you achieve, and your level of customer trust. The 11 Principles of Trust 79
  80. 80. What you achieve includes how accurately models perform and how quickly customer requests are fulfilled. The 11 Principles of Trust 80
  81. 81. Measure customer trust through ROI case studies and surveys on your trustworthiness. The 11 Principles of Trust 81
  82. 82. Anticipate the unexpected. 10 The 11 Principles of Trust 82
  83. 83. Things will go wrong. When they do, make sure you’re well- positioned to minimize the impact. The 11 Principles of Trust 83
  84. 84. Threshold / upper limit Track system performance metrics and set thresholds to quickly find the root cause. The 11 Principles of Trust 84
  85. 85. Design systems so they automatically enter recovery mode and send alerts when thresholds are exceeded. The 11 Principles of Trust 85
  86. 86. Look at product usage data and customer feedback to track and respond to common issues. The 11 Principles of Trust 86
  87. 87. Explain yourself. 11 The 11 Principles of Trust 87
  88. 88. The 11 Principles of Trust 88 Make your systems, policies, procedures, and products more explainable.
  89. 89. The 11 Principles of Trust 89 Start by understanding your buyers’ and users’ expectations.
  90. 90. Use what you’ve learnt to provide relevant information in your product to help your users make decisions.
  91. 91. The 11 Principles of Trust 91 And finally, communicate your efforts to customers and partners.
  92. 92. Remember: The questions surrounding AI are complex, so revisit your thinking and be prepared to discuss and adapt your stance. The 11 Principles of Trust 92
  93. 93. The 11 Principles of Trust: Create new value through trust. Build trust into your culture. Design resilient systems to reduce the impact of an attack. Construct a rapid remediation plan and practice using it. Understand customer and regulatory requirements. Give customers control and oversight over their data. Root out bias. Develop a fair model for value exchange. Make trust measurable. Anticipate the unexpected. Explain yourself. 1 2 3 4 5 6 7 8 9 The 11 Principles of Trust 93 10 11
  94. 94. Want to dive in deeper? Download our 11 Principles of Trust white paper. The 11 Principles of Trust 94

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