Could Lack Of Trust In Technology Crush The Global Economy?

(NOTE: This story and video clip were originally posted to CRN.com Oct. 26.)

Can an erosion of trust in technology security undermine the global economy?

Palo Alto Networks CEO Mark McLaughlin (pictured) said there is a real possibility that technology adoption could decline due to increased mistrust in the security of new technologies.

“There was a study done not too long ago by a U.S. government agency that looked at usage of some digital technology, and interestingly, it said it’s declining. Why? Because people don’t trust it,” McLaughlin said at this week's Best of Breed Conference in Atlanta, sponsored by IT Best Of Breed's parent, The Channel Company.

“How many times can you have your personal information stolen out of government databases or credit cards or banks?” he added.

McLaughlin spoke at length about the “massive productivity gains” the digital age has created, particularly around mobility, cloud and the Internet of Things.

But on the flip side, McLaughlin said, “People are getting fed up, saying, ‘Man, I just don’t trust this stuff anymore.’” That sentiment could lead to less technological adoption and even abandonment.

“If that were to happen on a wide-scale basis, the amount of productivity declines would be astronomical. It would be really, really crushing to the global economy. That should be a very big concern,” McLaughlin said.

At this point, the CEO said the goal is to retain enough trust in technology that people will continue to use it.

“We should assume the number of attacks is going up. I’m not sure we’re getting ahead of anybody,” he said.