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[Announcer] The world is changing dramatically,

more businesses are looking for ways to be agile

and ready for future disruption,

and to get there requires one critical

and increasingly valuable ingredient, trust.

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Faith in institutions is approaching an all time low,

whether that's governments, businesses, even nonprofits.

What you tend to find is, that there is

a literal price premium that you can ascribe to trust.

So as we look at this issue of trust,

let's break it down into three key areas,

stakeholder trust, the metaverse

and artificial intelligence.

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Technology, somewhat ironically is actually the thing

that led to a lot of the mistrust.

Can we use technology as a tool or a solution

to build trust?

100%, generally speaking, we're seeing businesses

move towards this idea that trust trumps tech

because people support what they understand

and if they don't understand tech, they're not gonna use it.

How can businesses really get ahead of that curve?

How can they adjust to these new and changing notions

of trust and really make trust

an intrinsic guiding principle to all that they do?

Technology is a force multiplier.

One of the things that we've found

in our Deloitte tech trends research

is the idea that blockchain,

it's actually a very useful means

of helping engender trust.

We have a culture of doubt of he said, she said,

blockchain affords a means of getting to what we said,

it enables this idea of maybe none of us

is as trustworthy as all of us.

People pay more than they need to,

to work with an organization

that they feel comfortable with.

And what you're saying about the blockchain then

becomes very interesting because do we have a world

with proof that is based in math we trust,

and blockchain we trust?

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The metaverse really has hit this inflection point now

because it is an extension of ourselves.

The question then becomes, is this a vehicle

to ensure more trust in the real world?

How do you see this playing out in our day-to-day

and in real time?

We talked to one of America's largest energy utilities

and they said Listen, 10 years ago

when we would train someone to work on

an electrical substation, we would have to wait

for the weather to be just right,

fly a group of people from around the country

to that spot and make sure nobody got shocked.

Enter virtual reality tech,

suddenly you've got a triple win.

You get the cost efficiencies of digital, right?

You get the safety, but critically

you still get that muscle memory, that body awareness.

You start to look at it less as a threat and more as a tool.

Simplicity is the greatest form of sophistication.

Well, don't trust the metaverse

because it's sophisticated, right?

Trust it because it may in fact be simpler.

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The reason we talk about AI and data transparency together

is because if you can see into that mechanical mind,

if you can ask it, why did you make that choice?

Then you can begin to understand it,

just like you could understand a colleague's decision making

you can do magical things with mechanical minds.

Do you think there is going to be a degradation

of trust between humans and their increasingly

smart robotic counterpoints?

One of the big considerations with AI and machine learning

is that it's used ethically.

Our research has turned up a lot around this notion

of bias in artificial intelligence.

If you train a machine on data it will do its best

to model what it's seen.

So many of our human biases are tacit.

A huge part of stamping out the group think the echo chamber

that results in that tacit bias is ensuring that

you have diversity from soup to nuts,

from beginning to end in the creation

of any of your AI systems.

And that's why Deloitte's put together

our trustworthy AI framework is a means of ensuring

that we don't accidentally teach machines

to act as we've done as opposed to as we want to do.

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The most important thing I've learned

is that technology comes last.

Tech is just a tool,

and a tools only is useful as the project it's used for.

Organizations that lead with need, they're on the right path

because all of these emerging technologies,

if they're understood, they can be trusted.

So as we think about trust, we have the ability

through new unfettered thinking to transform it

into something that is future friendly,

and has staying power now and in the years to come?

I couldn't agree more.

Erica, it's been so awesome chopping it up with you.

Thank you so much for the conversation.

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