Participating in a panel discussion here at 44th World Economic Forum annual meet, US-based AT&T's Chairman and CEO Randall L Stephenson said providing 100 per cent is impossible.
"I don't think we as a society want 100 per cent privacy. But I think the debate is right," Stephenson said.
Technology firms have come under intense pressure following revelations of a secret US government programme for collecting data of companies as well as individuals from the Internet space.
"People don't now what data is... How information is being collected and how it is being used," said Marissa Mayer, CEO of Internet major Yahoo!.
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Telecom major BT's CEO Gavin Patterson said regulation is often several years behind technology.
"We have to make sure it's (regulation) not intrusive and protects the rights of the individual. It's too murky at the moment and we need clear guidelines as to what is acceptable...," he said.
Networking systems major Cisco's CEO John Chambers emphasised on the need for governments worldwide to develop a common set of rules on privacy.