Technology Imperative Unleashes
Power and Responsibility

• 08/11/2023

Technology Imperative Unleashes Power and Responsibility: Leading Experts Convene at FayrEdge Summit 2023 to Explore Transformative Impact and Trust Imperative

Technology is an essential for businesses. In today's business environment, incorporating and proficiently leveraging technology isn't just an option; it's a fundamental necessity for businesses to expand, and, in some cases, even stay afloat. This necessity highlights the importance of integrating technology across different facets of business operations to stay competitive, enhance efficiency and adapt to evolving market conditions and customer demands.

TThe technology imperative for businesses does however place them in a legitimate position of power and influence. When businesses effectively harness technology, they gain a competitive edge, expand their reach, and enhance their efficiency. This technological power allows them to influence market trends, customer behaviors, and even societal dynamics. Businesses that excel in using technology often become industry leaders and shape the direction of their respective sectors. Their innovations and solutions can set industry standards, driving change and progress. Moreover, they can have a considerable impact on the economy, job creation, and even policy-making. However, this position of power and influence also comes with responsibility to use technology ethically and responsibly, protecting and safeguarding interests and well-being of stakeholders and society at large. It requires a balance between leveraging technological power for profit and contributing positively for the greater good.

Businesses, driven by technology, gain influence and along with influence comes the obligation for responsible use . The 2023 Edelman Trust Barometer shows businesses excelling in competence and ethics, attributing this shift to actions during the pandemic and decisive actions of more than 1,000 companies in withdrawing from Russia following its invasion of Ukraine. Trust in business ethics has risen by 19 points over three years, making them the most trusted institution globally, with a 62% trust rating, emphasizing their influence and heightened responsibility. Together, both forces bestows upon businesses a heightened sense of responsibility.

This premise sets the stage for a discussion among leading technology experts during the FayrEdge Summit 2023 in Mumbai on December 12, 2023. FayrEdge, is the World’s First Comprehensive & Integrated platform focused on Fair Stakeholder Experiences to help organizations build their Trust capital encompassing all stakeholders beyond the select few.

The discussion will delve into how technology is transforming the experience journey of stakeholders and ensuring that trust is deeply ingrained in the technology layer, particularly with regard to privacy and data integrity.

Picture a dimly lit auditorium, the ambient light emitted by the screens, where leading technology experts from across the globe have gathered to dissect the profound impact of the digital age. The air is thick with anticipation as the audience prepares to embark on a journey into the transformative powers of the digital landscape.

In the vibrant city of Mumbai, against the backdrop of a crisp December day, the FayrEdge Summit 2023's pinnacle shall be the riveting discussion titled "Technology–An Experience Evangelist?" This final session of the day is to serve as a crescendo, shedding light on how the digital revolution is fundamentally transforming the journey of stakeholders and underscoring why businesses must prioritize the infusion of trust into the very essence of technology, particularly concerning privacy and data integrity.

As the panel explores the topic, the transformation brought about by technology in businesses will become increasingly apparent. Technology experts will vividly describe how digital tools, platforms, and data analytics have evolved to create experiences that are not only efficient but also deeply meaningful. From user-friendly interfaces that simplify navigation to AI-driven personalized recommendations, technology enhances engagement, convenience, and overall stakeholder satisfaction. Nevertheless, the central concern being the trust imperative of technology, the panel shall stress the importance of ensuring that trust is more than just a superficial layer; that it must be woven into the very fabric of technology.

Recognizing that trust is the foundational currency, and companies upholding Trust principles are primed to guide us into a brighter, more inclusive, and secure digital future; the "Technology–An Experience Evangelist?" panel at the FayrEdge Summit 2023 is designed to highlight technology's transformative influence on stakeholder experiences. But, it also sounds a resounding call to action: The path to digital excellence must be built upon trust, making privacy and data integrity indisputable while weaving inclusivity and ethics into the very core of the digital landscape.