In an era defined by AI, automation, and rapid innovation, the pace of change has never been faster. But through it all, one thing that hasn’t changed is the need for trust in our transactions and relationships. Trust is fundamental to every interaction, and it has become increasingly critical in a complex, dynamic world. For today’s businesses, it’s more important than ever to ensure trust in every transaction.

With new threats to trust emerging all the time, there needs to be a measure of digital trust to interact using technology safely. Cyberattacks, privacy violations, identity theft, and technology failures can all undermine the sense of trust for consumers and the companies that serve them.

Trust gives organizations and users the confidence to engage in the digital world with peace of mind, knowing that their digital footprint remains secure. As organizations strive to meet the demands of a dynamic digital environment while maintaining secure operations, Intelligent Trust is rapidly becoming a strategic imperative.

Demonstrating a Commitment to Trust from the C-suite

To respond to the increasing need for trust, we’re seeing the emergence of a new leadership role: the Chief Trust Officer (CTrO). These individuals deliver trust as a foundational business asset by ensuring that an organization’s customers and business partners can fully trust their digital assets and capabilities. Their mission is to keep the organization’s digital presence secure and reliable and ensure that trust is built into all digital interactions. Working closely with other technology leaders, the CTrO is essential to protecting the organization from cyber threats, potential legal and regulatory consequences, and damage to the company’s reputation.

This new position underscores the ascendance of trust to a boardroom priority. Although digital trust has been on the radar for many companies, the issue has traditionally been managed by multiple organizations. These disparate teams usually undertake a tactical approach to handling digital trust, focusing on limited use cases like certificate administration.

Elevating that responsibility to a Chief Trust Officer shows the shift to a more strategic, holistic approach. Instead of reacting to discrete issues, Chief Trust Officers proactively develop mechanisms and processes to centrally govern critical digital trust and risk issues. [In as early as 2022, Forrester had noted that this role would become a natural evolution of the CISO position, adding that 15 firms in the Global 500 would appoint a chief trust officer in the coming year.]

Addressing Complex Challenges

Establishing digital trust is increasingly challenging as organizations and systems become increasingly complex. Today’s teams are striving to innovate and execute faster, while facing heightened risk and exposure. At the same time, managing the proliferation of certificates for trust is more difficult than ever. Organizations are saddled with outdated methods, which have led to cryptographic silos within businesses and a growing volume of system failures.

At the same time, visibility has become more difficult. According to DigiCert’s 2024 global study, enterprise digital trust efforts – the area we expect to be the most mature – are still embryonic. Very few (just 1 in 100) enterprise trust managers say their practices are “extremely mature.” In addition, 87% say their efforts are siloed. In terms of who manages certificates, roughly half (52%) have IT manage the certificates, a third (37%) manage outside of IT, and one in nine (11%) are not managed!

This unpredictable and sometimes chaotic environment demands a leader who makes trust an imperative throughout an organization. It calls for a leader who can ensure that the organization’s partners and customers can trust the organization’s digital assets and capabilities. They must also manage digital risks, ensure that the organization complies with legal and regulatory requirements, and work with other departments to align policies and procedures with the organization’s trust values.

The Chief Trust Officer must do more than implement reliable security measures to protect users from cyber threats. They will also be required to understand the foundation of trust within the technology they oversee so that users can confidently engage with it. They will need to continuously evaluate and implement best practices for data privacy, security, and compliance, with trust at the core of all initiatives. In the C-suite of tomorrow, the Chief Trust Officer will create an environment where individuals can connect with the digital world without fear of compromise.

Instilling Confidence in Consumers and Partners

A Chief Trust Officer serves not only a key internal role but a vital external one as well. Establishing the position sends a clear message to consumers about the organization’s dedication to trust and security. According to the DigiCert 2022 State of Digital Trust report, 99% of businesses believe that if their customers lose trust in them, they will likely switch to a competitor. The report also found that almost half of consumers surveyed (47%) have stopped doing business with a company due to loss of trust in the past. A vast majority (84%) also indicated that they would be open to switching vendors in the future if trust is compromised.

In short, digital trust is not only a safeguard for users but also an important branding pillar. It not only keeps customers and technologies safe, but it assures customers that they are safe, giving them the comfort and confidence to interact with companies and their technologies. Putting an executive at the helm to identify and manage potential risks is essential to establishing trust, without compromising the business agility that’s key to success in today’s environment.