Why trust and technology go hand-in-hand.

The erosion of trust has been a key theme of the last decade, and one that all business leaders must engage with in the years ahead.

The continuous change we're seeing and the rapid pace at which it is taking place can be unsettling. People worry that their basic rights and freedoms may be infringed, while various studies show confidence in governments and institutions is declining. Despite this, more than three-quarters of people globally told an Edelman survey that they trust their employer to do what is right, while a similar proportion believe companies should act in a way that improves economic and social conditions.

Fostering trust is not only about the greater good or ethical compulsions - it's also beneficial to the bottom line. Employees at high-trust companies report they have more energy at work, are 50% more productive and are more engaged than those at low-trust companies, according to a study published in the Harvard Business Review. And research also shows that customers are motivated to buy from brands that embody their values and beliefs.

The World Economic Forum's new Davos Manifesto calls on all private corporations to act as trustees of society, as part of its vision for stakeholder capitalism. Companies, governments and organisations are all guardians of society, offering reassurance and confidence while also promoting innovation.

So how can we move forward and keep innovating, while also preserving and extending trust?

Safety first

People are spending more and more time online and almost every aspect of life now has a digital dimension. For customers, the amount of information and choice can seem bewildering.

By demonstrating strong values and expertise, company leaders can help bring clarity and simplicity, giving people the tools to make informed decisions. Businesses can only do this if they ensure they're keeping pace with the risks, while complying with all global privacy and data protection regulations.

Companies also have a responsibility to work with governments to help develop policy. Global initiatives such as the Cybersecurity Tech Accord or the principles for AI aim to foster collaboration and promote safer online worlds.

Working together like this is one of the best ways to combat the existing level of cybercrime. At the Annual Meeting in Davos this year, BT and the World Economic Forum's Centre for Cybersecurity will step up efforts to strengthen the defences of the global telecommunications industry...