According to the latest study results released by the World Federation of Advertisers, global Chief Marketing Officers are now prioritizing data ethics in their respective companies. However, the irony is that almost 50% of these CMOs are not even familiar with what data ethics means.
While these executives are ready to talk about the issues being faced by consumers and regulators, the wide variety of data makes it difficult for them to come up with a single solution or ways through which such issues can be tackled.
Of the 60% of chief officers who support data ethics, most of the officers can’t pursue it due to the cost it comes with as well as the basic requirements needed to make it work, which include hiring new supporting staff that have skills in data ethics, training programs as well as forming new guidelines.
Meanwhile, 41% of the CMOs firmly agree that they have made data ethics an important factor in their respective institutes. Over 80% of the officers who became part of this study showed concerns about getting linked with service dealers who could be facing trials for using data in unethical ways.
On the other hand, 16% of them believe that artificial intelligence could play an important role in omitting any kind of chance in which there could be bad results for consumers, as machine language will make the whole procedure more transparent without any discrimination.
With all the concerns rising among CMOs, several steps can be taken by them to prevent any kind of unwanted experience. They should start by introducing their own set of principles for data collection and processing.
Once new principles have been laid off, it is important to bring partners and service dealers on board with the new set of rules and policies. as it will open up a gateway for more ideas to flow in.
The partners they are working with are very important. This is why it is better to know about them very well. which includes keeping the CMOs updated with how their partners work, how they handle consumers' data, and the level of security offered by them.
Illustration: Vector Juice/Freepik
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While these executives are ready to talk about the issues being faced by consumers and regulators, the wide variety of data makes it difficult for them to come up with a single solution or ways through which such issues can be tackled.
Of the 60% of chief officers who support data ethics, most of the officers can’t pursue it due to the cost it comes with as well as the basic requirements needed to make it work, which include hiring new supporting staff that have skills in data ethics, training programs as well as forming new guidelines.
Meanwhile, 41% of the CMOs firmly agree that they have made data ethics an important factor in their respective institutes. Over 80% of the officers who became part of this study showed concerns about getting linked with service dealers who could be facing trials for using data in unethical ways.
On the other hand, 16% of them believe that artificial intelligence could play an important role in omitting any kind of chance in which there could be bad results for consumers, as machine language will make the whole procedure more transparent without any discrimination.
With all the concerns rising among CMOs, several steps can be taken by them to prevent any kind of unwanted experience. They should start by introducing their own set of principles for data collection and processing.
Once new principles have been laid off, it is important to bring partners and service dealers on board with the new set of rules and policies. as it will open up a gateway for more ideas to flow in.
The partners they are working with are very important. This is why it is better to know about them very well. which includes keeping the CMOs updated with how their partners work, how they handle consumers' data, and the level of security offered by them.
Read next: New Study Proves How Most People Use Instagram And The Findings May Surprise You
