Data is a key asset that fuels business growth and innovation, but it also poses serious privacy issues. From voice assistants that are constantly listening to us to smartwatches that track our movements, new technologies introduce new and increasingly complex privacy concerns. Despite the growing risks, businesses must continue to invest in their privacy programs and implement robust controls to protect the information they handle.
One of the biggest challenges is keeping up with regulatory compliance. Changing laws like GDPR and CCPA are challenging to navigate, and many organizations struggle to ensure they’re meeting all the requirements. The other challenge is navigating complex data ecosystems. When companies work with multiple data partners, it becomes challenging to establish responsible privacy practices and set clear guidelines for all stakeholders.
It’s also becoming more difficult to distinguish between what constitutes personal information and what doesn’t. Increasingly, technology can link and match data points to identify an individual, even when that information isn’t explicitly collected. This makes it more challenging for regulators to make a determination about whether a company has overreached its data collection practices.
In addition to investing in technology and developing a comprehensive compliance program, businesses should also create an internal culture of transparency and trust. They should train their teams to understand the difference between data privacy and security, and they should also provide frequent educational initiatives and workshops that equip employees with knowledge about current standards and regulations.