During the “A New Era of Privacy: Perspectives from Privacy Practitioners” roundtable at the recent TrustArc Privacy Risk Summit, experts explored the privacy challenges presented during 2020, trends in privacy and risk management and the role technology can play in addressing these hurdles. The wide-ranging conversation clearly highlighted the growing need for comprehensive and intuitive privacy management solutions to help professionals and businesses adopt a more proactive approach to privacy accountability.
Laws and regulations like CCPA have far reaching implications for enterprises using and storing data. The roundtable panel agreed a whack-a-mole approach is not a desirable solution for privacy. Focusing on one or two regulations for compliance is likely to leave organizations exposed in the future. With the enforcement of the 2020’s privacy regulations, and more laws likely to emerge, it’s more important than ever for organizations to think seriously about instituting holistic approaches to data privacy. As part of this, privacy professionals need to think whether their current practices and solutions are equipped to mitigate risk for the challenges to come. This holistic approach that many forward-looking organizations have instituted results in greater accountability for data privacy.
“We have to scale the mutual responsibility for privacy, because we’re spending a lot of time and wasting a lot of effort, doing the same privacy impact assessment for each new law or policy we encounter.” – Jules Polonetsky, CEO, Future of Privacy Forum
The roundtable panel explored the complexity and inefficiency of most privacy management practices. With global regulations that seem to change by the day, many enterprises find themselves starting from scratch with a new gap analysis for each new law or significant change. This makes automated privacy management workflows seem impossible. Enterprises need solutions that can continuously scan a company’s details against laws and regulations as they emerge around the world. These solutions should make privacy management more intuitive by providing contextual insights and definitive actions to address any change in regulations.
To learn more about the privacy challenges from 2020, the trends in privacy and risk management to be aware of, and the new role technology can play in addressing these privacy hurdles, download the whitepaper A New Era of Privacy: Perspectives from Privacy Practitioners.