Ever since the internet era began, data privacy has become an increasingly important demand. There is a tonne of private information circulating on computer networks. Its preservation has become a requirement.
Most businesses are required to abide by HIPAA, GDPR, or another sector- or location-specific privacy regulation. 75% of the world’s population will have their personal data safeguarded by the year 2024. It will be covered by one or more privacy laws.
Data privacy compliance does not have to be a top priority for large enterprise organisations. It and cybersecurity go together. Moreover, privacy regulations affect businesses of all sizes.
There was a 113.5% increase in GDPR infractions between July 2020 and July 2021. The amount of related fines increased by 124.92% as well. Each incidence of a HIPAA breach may result in a fine of between $100 and $25,000.
Making data privacy a top priority and incorporating it into all of your data collection procedures is crucial. Companies must protect personally identifiable information (PII) when they collect, distribute, or retain it. This entails putting in place sufficient safety measures.
You must also stay current with developments in this field if you want to fulfil your commitments to comply with privacy laws. Secondly, we have listed the most important data privacy trends for 2023 that you need to be aware of.
What’s Happening in Data Privacy Compliance?
AI Governance
AI is required for the operation of about 40% of privacy compliance technology. Undoubtedly, many of the daily-use programmes we use now use AI.
AI predicts what you’ll type next when you’re typing in Microsoft Word and text appears as a suggestion. You may now click a button while editing a picture in Photoshop to make a frowning face grin. AI is also responsible for this.
It therefore comes as no surprise that many of the algorithms in charge of maintaining data security are being managed by AI. But what takes place when there is an AI issue?
The issue that AI governance is attempting to solve is this one. Because AI is now more pervasive than ever along the data journey, this is a new trend in data privacy.
Organizations must effectively control AI wherever it is applied to data protection. This makes it possible to prevent the unintentional exposure of sensitive data via automated operations.
Consumer Privacy UX
Giving consumers more privacy control is a trend that we’ve noticed over the past few months. Apps and websites must comply with numerous privacy standards that demand data disclosure. People need to know what information is being collected, how it is being collected, and what is being done with it. Also, people need a way to get their data back.
These requirements have made consumer privacy UX a “thing.” This can be compared to a central privacy portal. a location where users may access privacy-related settings for different apps. Better understanding of how their data is being utilised is provided by this.
Increased Scrutiny of Remote Employee Monitoring
The epidemic has permanently altered the world’s labour force. Many businesses now operate entirely from remote locations. Or perhaps a combination of office-based and remote workers. Changes in data collecting have resulted from the sharp rise in persons working from home. Businesses are increasing the oversight of their remote workers.
Nevertheless, when it comes to data privacy, this kind of surveillance creates a whole host of problems. Companies must make sure they aren’t violating the rights of their employees. This is especially important when setting up staff device monitoring.
For instance, about 49% of remote workers operate on their personal laptops. Endpoint device monitoring is frequently implemented in businesses for security purposes. They must make sure they are not collecting or storing any private information. That would be information that belonged to the employee, not the business.
Data Localization
When the social app TikTok gained popularity, location was one of the issues raised. Because the corporation is situated in China, many were concerned about the protection of their data. Initially, the data was kept on computers under Chinese government control. a nation has laws on data privacy that are considerably different from those in the US and other nations.
Data localisation will spread more widely. Organizations are paying more attention to where their cloud data is kept. The privacy laws and regulations that a server may be subject to depend on where it is physically located. As a result, organisations and organisations are increasingly asking cloud service providers a question. Where is my data stored is this. Many people prefer to have their info as nearby as feasible.
Privacy-Enhancing Computation
The phrase “data privacy by design” is relatively new. One way AI is assisting cybersecurity is by using computation that increases privacy. PEC is a built-in component of software and apps that developers use to benefit their customers. By increasing automation of data protection, they solve privacy concerns.
While choosing business tools, look for PEC components in data analytics.
When Is the Last Time You Had a Compliance Check?
How effective are your data privacy safeguards? Are loose controls putting you at danger of being fined? Make a call to us! With a compliance checkup, we can assist.
