Privacy should be a top-of-mind issue as new privacy regulations keep appearing globally. However, recent report shows organizations are still unprepared to deal with them effectively.
Even though Facebook has closed out its Q4 earnings at historic highs, the company cautioned that cost of compliance with privacy regulations will slow down revenue growth rates in Q1.
Increase in privacy regulations around the world has driven the role of CPO to grow in significance and evolve in complexity to keep organizations compliant with the new requirements.
At present, only about 10% of the world has strong privacy regulations. Gartner believes that the GDPR will be the specific model upon which most new regulations are based.
To prepare for any privacy regulation, adopt a core technical framework where privacy controls can be applied to any new or existing system.