Cisco Data Privacy Benchmark Study 2020 shows businesses are seeing big financial benefits from data privacy practices at an average return of 2.7 times on their privacy spend.
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.
CPO of CVS Health shares the use of data-driven diagnosis to see how her team spends their time, compare the different potential risks and reallocate time to be more proactive in privacy approach.
Alternative data can provide powerful insights when properly aggregated. Businesses are increasingly using it to improve their decision-making and to gain a competitive advantage.
Flaws in Safari’s Intelligent Tracking Prevention feature allow hackers to track users as they navigate the Internet and gain access to their cross-site browsing history.
Mounting controversy over law enforcement agencies’ use of new facial recognition tool developed by Clearview AI, which allegedly scraped more than 3 billion photographs of people from Internet.
European Commission is deliberating whether to adopt a three to five-year facial recognition ban that will give them some time to figure out how best to regulate the new technology.
Tinder, Grindr and OKCupid were among the dating apps found to funnel sensitive personal data like gender, age, IP address and GPS location to major advertising and behavior analytics platforms.
A new study reveals that the more humanlike a virtual assistant appears to be, the more consumer trust is placed in the device, which raises fresh concerns around Big Tech and data protection.
Google's privacy sandbox proposal now plans to phase out third party cookies from the Chrome browser by 2022, and has laid out what is at least a theoretical roadmap to preserving the targeted ad industry without the major incursions into user privacy that are so common today.
Some of the largest ad companies alleged to have quietly paid millions of dollars to some of the largest ad blocker companies to be able to continue to track and target consumers with ads.









