Empowering Consumers: How Identity and Access Management can enhance self-sovereignty in the digital world
Consumers are becoming more aware of the importance of protecting their personal data and are looking for Identity and Access Management (IAM) solutions that prioritize privacy and security. Thus, biometric authentication, such as fingerprint and facial recognition, are becoming more popular as consumers seek more convenient and secure ways to access their accounts.
With the emergence and evolution of AI and the adoption of this technology by the consumer segment, we expect to see the broader Identity and Access Management industry shift its investments towards incorporating the technology into the overall umbrella of services, as well as slowly creating a consumer-focused offering alongside the traditional B2B, B2B2C offering.
As new technologies open up new attack vectors, there is an anticipated shift in overall digital security spending in addition to advancements in automation and Artificial Intelligence-driven response times.
There is also a natural preference for solutions to be highly customizable beyond their original intent. Companies are now looking more than ever for technology that they can “tweak” themselves, to match their vision and strategy as well as create personalized experiences for their own customers.
On the other hand, in terms of seeking support, customers are now more inclined towards being self-sufficient in handling their identities and access controls, such as modifying passwords and personal information, without the need for customer service assistance. The growing desire for increased control over personal data and access rights is propelling the adoption of self-sovereign identity systems, enabling users to independently manage and safeguard their digital identities.
Additionally, customers are becoming more hesitant to share their personal information with companies and are more likely to question the necessity of providing certain details when creating accounts or making purchases online.
Overall, customer behavior change in terms of Identity Access Management is leaning towards a more cautious and security-conscious approach to protecting their personal information online.
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This behavior could be addressed by companies in 2 ways:
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Some companies have already diversified the portfolio of services they are providing to their customers and the businesses are always on the lookout for new opportunities. This evolves in time since it’s based on each company’s understanding of the customer’s business and identifying areas where they can deliver additional value for their business as well as their customers.
The most important trend to monitor is the evolution of AI platforms and how they’ll impact IAM solutions. At Computer Generated Solutions (CGS) we are heavily focused on the interaction between human intellectual ability to solve technical issues and intelligent platforms which are doing part of the work at higher speed & accuracy rates. The outcome will depend on our ability to adopt and implement new technologies, keeping in mind the needs of our customers, specifically, how we can address them in a more efficient and productive manner.
For the longest time, IAM has been almost singularly focused on managing human digital identities. Given the technical advancements we’re seeing around Machine Learning, Big Data & AI, there is a great opportunity for companies to start looking at how they can incorporate these non-human identities into the overall ecosystem for deeper insight and greater digital security.
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About CGS
For 40 years, CGS has enabled global enterprises, regional companies, and government agencies to drive breakthrough performance through business applications, enterprise learning and outsourcing services. CGS is wholly focused on creating comprehensive solutions that meet clients’ complex, multi-dimensional needs and support clients’ most fundamental business activities. Headquartered in New York City, CGS has offices across North America, South America, Europe, the Middle East, and Asia. For more information, please visit?our Romania blog at Romania.cgsinc.com, our global site www.cgsinc.com,?and follow us on?LinkedIn.