Digital Trust Technologies

2022: What digital trust technologies are and why tens of billions of dollars are invested in them

At the end of 2022, investments in digital trust technologies on a global scale reached $47 billion. In the period from 2018 to 2022, costs in this area increased approximately fivefold. This is stated in a study by McKinsey, the results of which were released in mid-July 2023.

Trust architectures and digital identification enable organizations to manage risk, accelerate innovation, and protect assets. In addition, the introduction of such technologies helps to improve the efficiency of the company and improve relations with customers. We are talking about trust in digital systems and computer equipment, ensuring the security of transactions, as well as protecting personal data.

What are digital trust technologies

One such technology is zero trust architecture (ZTA): it assumes that no connection, user, or asset is trusted until verified. Another area is privacy engineering: the goal is to provide tools and methods that ensure an acceptable level of IT system confidentiality. In addition, McKinsey analysts highlight technological sustainability, that is, a set of practices and foundations necessary for the design, deployment and safe operation of the corporate IT environment. Such tools help organizations identify and address a variety of issues, including delays, failures, or cyber intrusions.

It is noted that in the period from 2021 to 2022, the number of vacancies in the digital trust technology market increased by 16%. The most in demand are specialists who provide analytical support for projects for responding and investigating incidents in the field of information security. At the same time, the need for network engineers and software specialists is growing the fastest. The adoption of digital trust technologies is hampered by a number of factors, including integration issues and organizational fragmentation.^[1]

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