Megan Motto, CEO of the Governance Institute has said that companies have an “urgent ethical obligation” to notify customers in the event of a data breach and that the increasing use of AI, along with privacy protection are top of mind for consumers.
“An overwhelming proportion of those surveyed said they felt it was an ‘urgent ethical obligation’ for companies to notify customers of all data breaches, and to ensure generative AI technologies are not used to mislead or deceive,” said Motto.
“Fears around future job losses due to AI are also proving to be a growing ethical concern.”
The 2023 Governance Institute of Australia Ethics Index, showed that 73 per cent of respondents believe that businesses have an urgent ethical obligation to notify customers about all data breaches. The increased attention on ethics for companies has been driven in large part by Gen Z and Millennials who are demanding more from their companies.
“The Ethical Expectation Deficit – which is the gap between the value we place on ethical behaviour and the perception – is growing wider,” Motto said.
“This indicates that there’s still plenty of work to do by organisations and individuals, both in the
public and private spheres to ensure good, ethical conduct and a positive culture remain top of the
There are also a number of concerns around generative AI with 71 per cent of respondents saying that companies have to ensure that their technologies are not used by others to mislead or deceive and 60 per cent said that businesses should have to acknowledge that content was created by generative AI.
Data breaches have been big news in Australia recently with Optus’ attack last year affecting almost 40 per cent of the population. With growing concern from the general population, it would certainly pay businesses to be on the front foot with their cybersecurity.
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