How can companies ensure that the use of advanced technology, such as artificial intelligence and big data analytics, in collecting and utilizing customer insights is done ethically and transparently to build trust with customers?

Companies can ensure ethical and transparent use of advanced technology by implementing strict data privacy policies and obtaining explicit consent from customers before collecting their data. They should also regularly audit their algorithms to identify and address any biases or ethical concerns. Additionally, companies can be transparent about how customer data is being used and provide clear explanations of the benefits and risks involved. Lastly, fostering open communication with customers and being responsive to their concerns can help build trust and demonstrate a commitment to ethical practices.