Product developers always face the challenge of creating a pleasing user experience without increasing legal risk, how can companies find a balance between them?
Data Privacy
Technological development has always outpaced privacy concerns, but never more so than in the past decade. Collection and centralization of personally identifiable information (PII), tracking of movements and digital surveillance are all at unprecedented levels. Regulations and laws are only just beginning to catch up to the ability of both governments and private entities to deploy these capabilities.
What exactly is there to worry about? The mass collection and centralization of data by giant multinationals such as Facebook and Google is as good of a place to start as any. Two decades of vacuuming up the personal data of users of various online services has created the most impressive marketing capabilities in history, but these profiles have astounding potential for damage when they are used the wrong way or fall into the wrong hands.
Unauthorized information that is captured in data breaches tends to find its way to massive “combo lists” that are sold and traded on the dark web. Social security numbers are added from this breach, home addresses and phone numbers from that one, personal health information from yet another. Soon, a frighteningly complete profile of millions of individuals is available to anyone willing to pay the asking price.
These are just the established data privacy issues. The emerging ones are even worse. High-quality facial recognition technology is just beginning to roll out across the public places of some countries. Artificial intelligence is not only making mass facial recognition possible, but magnifies the power and reach of any application that involves capturing and sorting information: scanning pictures, analyzing speech, sifting through text and location data. This threatens to not only shatter anonymity and privacy, but allow for highly advanced impersonation and take the concept of “identity theft” to new levels.
Some businesses chafe at the trouble and added expense of new and emerging data privacy regulations, but they are vital to both protecting rights and privacy and instilling confidence in end users. Customers want to be able to submit their payment information without worry about data breaches and identity theft, use services without wondering what is being done with their personal information and use devices without fear of surveillance or having location data tracked. The need for meaningful safeguards only grows greater as technological capabilities increase.
In the age of hybrid and remote working, assess your corporation’s plan for data privacy management. Are you educating your employees about safe data sharing practices, and do you have the best infrastructure to mitigate data privacy risk and thwart future attacks?
Following stories of smartphones and smart home virtual assistants leaking user data, new wave of IoT privacy concerns rising as researchers found smart devices sharing personal information with tech giants.
As semiconductors transform more everyday devices into smart devices, even more companies will be downloading their information and storing it, creating a growing data privacy problem.
Unlike the 18th and 19th century trading companies, today's tech giants use monopoly not to the benefit of the crown and a nation, but instead for their own personal benefit and the benefit of those wealthy enough to own their stock.
Ride hailing giant Didi's exile into the wilderness appears to be ending, and the Chinese government's harsh wave of regulatory crackdowns has taken sharper focus, as the investigation has concluded and a fine of $1.2 billion has been announced.
In the well-reported cases of both TikTok and Privacy Shield, governments took decisive action to protect their residents from potential abuse by other governments. These cases present businesses with steps they can take to adjust to the evolving environment.
Facebook has accused Apple of anticompetitive behavior, pointing to an expectation of disproportionate damage done to small businesses that rely on personalized ads.
New study by the Center for Data Innovation showed that only 1 in 5 Americans will pay a monthly subscription fee for online privacy despite the result that 80% want Internet companies to collect less personal data about them.
For James Howard, Chief Data Officer at KPMG, the biggest challenge today for privacy professionals is remaining relevant and adding value. How does a company remain effective in business, but also protect information in accordance with all these various regulations?









