Data Privacy Trends To Follow For 2023
InformationWeek, January 26th, 2023
A boom in privacy-focused tech, coupled with new regulations coming into force, is likely to spell a shift toward greater transparency and safeguarding of personal data in the year ahead.
Economies and businesses are becoming increasingly prudent about managing data. Yet, despite these efforts, and the roll-out of national and -- in the case of the EU -- continent-wide steps to better regulate the safeguarding of data, security breaches remain commonplace.
According to an IBM and Ponemon Institute report, the average cost of a data breach reached a new high of US$4.35 million in 2022. The researchers arrived at this staggering number based on several cost factors, such as legal, regulatory, and technical activities, loss of brand equity, customer turnover, and drain on employee productivity.