Data privacy has become a crucial requirement in the internet age. With a large amount of personal information being exchanged over computer networks, protecting this information has become a mandate. Most companies must comply with privacy regulations such as HIPAA, GDPR, or other industry or location-based privacy rules. By 2024, it is estimated that 75% of the world’s population will have their personal data protected under one or more privacy regulations.
Data privacy compliance is not limited to large enterprises. Small and medium-sized companies must also ensure that their privacy obligations are met. This is closely tied to cybersecurity. The number of GDPR violations rose by 113.5% between July 2020 and July 2021, and the associated fines increased by 124.92%. HIPAA violations can result in penalties ranging from $100 to $25,000 per incident.
It is vital to prioritize data privacy and incorporate it into all data collection processes. Companies collecting, sending, or storing personally identifiable information (PII) must have adequate safeguards. To stay on top of privacy compliance obligations, it is also essential to keep up with trends in the area. In this article, we will discuss the most significant data privacy trends happening in 2023.
Biggest Data Privacy Trends in 2023
Approximately 40% of privacy compliance technology requires artificial intelligence (AI) to operate. AI is prevalent in many daily applications, such as predictive text in Microsoft Word or smiles correction in Photoshop. AI is also responsible for running many of the algorithms that protect data. However, what happens if there is a problem with AI? AI governance addresses this issue by ensuring that automated processes do not accidentally expose sensitive data.
Consumer Privacy UX:
There has been a trend toward empowering consumers with more control over their privacy. Many privacy regulations require that apps and websites provide transparency about the data they collect and how it is used. This has led to the rise of consumer privacy UX, a centralized privacy portal where people can access privacy-related settings in different apps and have better visibility into how their data is used.
Increased Scrutiny of Remote Employee Monitoring:
The pandemic has dramatically changed the global workforce, with many organizations running remote offices or a mix of remote and in-office staff. This has led to an increase in the monitoring of remote employees, but organizations need to ensure they do not encroach on their employees’ rights. For example, nearly 49% of remote employees use their personal computers for work, and companies must ensure that their endpoint device monitoring does not gather or backup any personal data.
With the increasing popularity of social apps such as TikTok, data localization has become a concern. Companies and governments are asking cloud providers where their data is stored, as the server’s location governs the privacy regulations it falls under. Many organizations want their data to be as close to home as possible.
Privacy-Enhancing Computation (PEC):
Privacy by design is a relatively new concept, and privacy-enhancing computation (PEC) is one way that AI is helping improve cybersecurity. By incorporating PEC into software and apps, developers can address privacy concerns and automate data protection. Look for PEC components in data analytics when choosing business tools.
Data privacy is a crucial concern in today’s internet age. It is vital to prioritize data privacy and keep up with the latest trends. If you have yet to get a compliance checkup, consider contacting experts for help. Ensure that your data privacy protections are up to date and avoid the risk of penalties due to lax controls.
Article used with permission from The Technology Press