The pandemic has revealed the vulnerability and repercussion of accelerating the digital transformation journey. Enterprises are struggling to secure their infrastructure as well as enhance their data privacy. However, by being aware of the new and forecasted data privacy regulations, enterprises can brace themselves to effectively deal with the privacy challenges in the coming year.
2020 has been a year of ups and downs, especially for data protection professionals who have been dabbling with ever-evolving challenges in the rapidly changing enterprise environment. Enterprises have been struggling to keep their infrastructure while navigating the privacy laws to strengthen their relationship with their customers.
“As the coronavirus vaccines start to stem the tide of the pandemic, privacy governance and use of privacy data will be a leading struggle for companies”, says Glen Day, CEO, NVISNx, “This includes the opt-in use of contact tracing data ─ which will be critical for re-opening the economy, but still a very sensitive matter for many individuals.”
Enterprises have a lot on their plate right now, and tackling the data privacy challenges may not be at the highest priority, but it is still a critical aspect of enterprise technologies. By knowing the data privacy predictions, enterprises can be hopeful that they can enter 2021 with all the knowledge that helps them to confront the challenges around it:
Ethical use of Data
Data protection professionals have had to take steps for the emerging requirements for personal data in the dynamic scenario of 2021. Tracking and tracing the workforce’s physical and psychological health has given rise to a new set of privacy concerns.
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“The effectiveness of data protection control (in terms of sensitive data monitoring, access, containment and proper use) will be an increasing business risk concern for cyber leaders through board directors,” says Glen Day.
In 2021, the ethical use of data will decide the survival and fate of data-driven enterprises. Enterprises need to find ways to secure the data of their customers and employees across complex issues such as cross-border transactions to gain confidence among the international authorities.
“While many of these controls have been implemented, their ineffectiveness to prevent breaches due to limited business intelligence will remain an ongoing struggle for both cyber and business professionals,” adds Glen Day.
Privacy Laws
As more and more enterprises will continue to base their business practices on intelligent data, they will likely need to pass the data privacy laws and regulations across a diverse geographic location. As per Andrew Sellers, CTO, QOMPLX, “GDPR, CCPA, and similar regulations will continue to be iterative frameworks for new privacy legislation. These regulations will continue to evolve and will require agility to support data organization.”
Such privacy laws would motivate countries across the globe to address the issue of privacy for their citizens. Hence, enterprises should rethink their products and services regarding privacy. “We will see more companies investing in SaaS product offerings to support compliance initiatives to maintain standard operations globally.”
Empowering Customers
2020 saw customers’ trust plummeting to an all-time low when it comes to their privacy. Many enterprises have witnessed a decline in their customer base as well as deterioration to their brand’s image.
Going forward, enterprises will try to make amends to keep their customers’ confidence by providing power over their data. “As you know, Facebook Login makes authentication easy and gives the developers access to data the users share on Facebook,” says Nicole Rodrigues, CEO, NRPR Group. She further adds, “However, as data privacy issues continue to arise, large corporations such as Facebook and LinkedIn, who are the gatekeepers of a lot of user data, are making more updates to their platforms to give users more choices to delete or keep more of their data private.”
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According to Nicole Rodrigues, “The new normal is simply going to be heightened awareness and increased savvy around data privacy rights. Companies will have to give users more options for data security, while also making it more clear what their data is being used for and why.”
In 2021, enterprises will need to develop products that empower their customers. Knowing they have control over what happens to their information will strengthen the confidence of customers in the enterprise. Also, knowing the enterprises are taking initiatives to keep their data secure while providing an option for deletion will keep the customer base loyal.
