What Data Privacy Trends Should Be on Your Radar for 2023?
Two years ago, the world was struck with a virus. If there is one thing we as humans have learned, change can happen anytime. However, as time goes on, we’ll adapt to the change, trying to understand it and, if feasible, benefit from it. The outcome is unpredictable, and what comes next may be exciting. But it would be useful if we understood what to anticipate.
For business owners to improve their profitability and productivity, they need to understand their client’s needs and exceed their expectations. To do that, business owners need access to their client’s data. The need to limit business owners’ access to their client’s data has increased. If there isn’t enough limit, cybercriminals might take that advantage and corrupt or steal this data. Hence, the need for data privacy systems.
Each day, more companies become aware of the big picture, data privacy. They are gradually realising how crucial IT teams are to technological compliance, effective digital strategy, and economic development and success. More firms are increasingly letting IT staff participate directly in long-term business goals and success.
According to a report, 79% of people are worried about how businesses use the data they gather about them. The surge of cybercrimes has made people get more anxious about what seems inevitable, a data breach. Thus, as technology advances, business owners should remain updated about data privacy protection. This piece will highlight five data privacy trends business owners should consider adopting in 2023.
Five Data Privacy Trends Business Owners should adopt in 2023
Here are those data privacy trends:
1. Data localisation
It appears irrational to try and control the nation where data is located in a globalised digital world. However, many new privacy regulations, either directly or indirectly, result in this control.
Because of the challenges posed by an inconsistent regulatory environment and the need for various localisation techniques in multiple areas, security and risk management executives are forced to rethink how cloud computing is designed and acquired across all models. Planning for data localisation will become a significant priority in the development and procurement of cloud services because of that.
2. Centralised privacy user experience (UX)
The need for a unified privacy UX (user experience) will be driven by rising consumer expectations for transparency and increased subject rights demand. Forward-thinking businesses see the benefit of combining all privacy UX components into a single self-service portal, including SSR (subject rights requests) handling, cookies, notices, and consent management. Key stakeholders, clients, and staff will find this method convenient and save a lot of time and money.
3. AI governance
The threats to privacy and possible exploitation of sensitive information are apparent, regardless of whether businesses process private information via an AI-based unit embedded into a commercial product or a different platform controlled by an internal data research team.
Today, most AI used by businesses is integrated into larger systems, with limited monitoring available to evaluate the effect on privacy. These integrated AI features are employed to analyse consumer sentiment, follow employee activity, and create “smart” goods that adapt as they are used.
Furthermore, decisions taken years from now will be impacted by the data that is currently fed into any of these learning techniques. When AI governance is developed, it might be practically impossible to detangle malicious data that has been absorbed when the AI governance has not been adopted. IT executives will be forced to completely dismantle systems, costing their businesses and reputations a lot of money.
4. Privacy-Enhancing computation strategies
An organisation’s performance depends on multi-party data exchange, analytics, and data management in untrusted settings like the public cloud. Because of the complex features of analytics engines and systems, providers must build in privacy by design rather than as an afterthought. The need to build AI models and their widespread use are just the most recent developments in privacy concerns.
Contrary to typical data-at-rest security measures, PEC (privacy-enhancing computation) secures data while it is being used. As a result, businesses can now adopt data management and analytics.
5. The hybrid work culture
The opportunity and demand for increasing monitoring, tracking, and other private data processing procedures rise as interaction models in life and work become more hybrid, and data privacy risk assumes a crucial role.
Work-life balance and productivity satisfaction have grown across numerous sectors and fields due to the privacy risks of all-hybrid interactions. The process of monitoring data must be limited and have a clear goal, such as enhancing employee productivity by eliminating irrelevant friction or reducing the risk of burnout by identifying dangers to well-being. Businesses should adopt a human-centric response to privacy.
Prepare for the Next Data Privacy Trend with GKM2 Solutions
At GKM2 Solutions, we offer IT Services to a broad range of IT sectors, from basic network configurations to major collaborative projects.
We serve all business sectors through our trained and certified team. For further inquiries, contact us.