February 19, 2015
Headlines are dominated by our increasingly digital world. On any given day you read about cloud and mobile computing, the Internet of Things, predictive data analytics, and digital currencies, among other things. It is clear that the internet, WI-FI, cellular networks and the many devices that connect to them and through them have paved the way for hyper-connectivity, which has translated into productivity and ultimately value to the global economy.
But, with a connected digital world comes the emergence of exploitable vulnerabilities for corporates that can destroy value – cyber-security, personal security, viruses, and even cyber-terrorism. As a result, these weaknesses are likely to drive a growing number of disputes and litigations around data breaches and predictive failures when data analytics or algorithms don’t work. There will also be an increasing need for investigative capabilities in the assessment, remediation and preventative activities related to these issues.
And of course, when the various risks mentioned do manifest themselves, an expert is needed to assess the damage, financial and otherwise, to the governments, businesses and people impacted, as well as determining who is to be held responsible for the damage and what steps should be taken to mitigate future potential situations.
In response to these concerns, politicians, regulators, academia and business leaders have focused on improved ways of knowing, verifying, or trusting the parties with whom we interact in the digital world.
A recent headline stated that “Trust has become essential in the digital age.” However, the core concepts of trust, connection and relationship don’t change in a digital world, even if we need new tools and processes to aid their implementation in such an environment. At the end of the day, people still want to connect with people whom they trust and can build and maintain a relationship.
Ankura Consulting Group views this concern of digital age trust as a bit of a “Back to the Future” moment – knowing and trusting someone in way that instills confidence has always been rooted in the concept of a relationship. Our founding principles – Integrity, Quality, Diversity, Collaboration and Longevity – are designed to build and sustain relationships with our clients and our professionals. Our commitment to our clients coupled with our deep expertise enables Ankura Consulting Group to provide impactful, senior-level counsel in these growing concerns of the future.