• by Ray Schultz , January 13, 2023

Compliant data use may become as big a factor as anything else when companies are deciding how to deploy technology, according to The State of Responsible Technology, an MIT Technology Review Insights report, conducted in partnership with Thoughtworks. 

Of the companies polled, 73% agree that responsible technology usage will eventually equal business or financial considerations when companies make decisions about technology, 30% strongly so. 

For instance, companies believe responsible tech investments will pay off in these tangible benefits: 

• Better customer acquisition/retention — 47%
• Improved brand perception — 46%
• Prevention of negative unintended consequences and associated brand risk — 44%
• Attracting and retaining top talent — 43%
• Improving sustainability — 43%

However, no consensus on which responsible practices should take priority, the study notes.

As to what constitutes responsible use, here is how companies understand it:

• Use fully complies with existing regulations —59%
• Use is in accordance with IT best practices — 49% 
• Technology projects fully meet financial targets — 48%
• Use eliminates or minimizes impact on the environment — 41%
• Use improves customer satisfaction — 28%
• Use is according to vendor’s prescriptions — 27% 
• Use avoids compromising cybersecurity protections — 16%

But priorities depend on company size. Those with revenues between $500 million and $10 billion are most concerned with ROI (54%), system security (46%), and avoiding harm to stakeholders (45%) and the environment (13%).

In contrast, firms with revenues exceeding $10 billion are likely to be concerned with ROI (47%), system security (39%), avoiding harm to stakeholders (38%) and the environment (9%). 

Goals also differ by industry sector. .For instance, financial services firms are most interested in ROI (6!%) and efficiency (66%).  

Public sector organizations focus more on security (56%) and avoiding harm to stakeholders (52%).

MIT Technology Review Insights and Thoughtworks surveyed 550 senior executives and directors from the financial services/insurance, healthcare, retail and ecommerce, automotive and energy and utility industries. Included were executives in the United States (12%), Canada (10%), Brazil (10%), the United Kingdom (12%), Germany (12%), India (12), Australia (11%), Singapore (10%) and China (12%).