Data Privacy Regulations to Cover 75% of the World’s Population by 2024

The continuous international development of data protection and privacy legislation will mean that by 2024, 75% of the world’s population will have these rights protected. This is stated in a Gartner study, which also specifies that the challenge will be that the responsibility for such protection will be transferred to the technology departments of the organizations themselves, which for the moment there is still no consolidated practice in this regard. One consequence of this will be that large organizations will have to face significant increases in their budgets for this area, with Gartner estimating that the average budget for the year 2024 that these large companies will have to devote to complying with the legal requirements of these regulations for protecting the privacy of their users will be more than 2.5 million dollars.

Offshore data

Another challenge that large organizations will have to address is the location of the servers that house their users’ information. Due to the differences in the regulations legally in force in the different territories of the world and as a consequence of globalization, the Cloud becomes a contradictory territory, with international effects but subject to national legislation that is very different from the territories of origin or residence of those it affects. Depending on the nature of the regulation in each territory, organizations will have to adjust their protection strategy to the privacy rights of their users. This will force planning for the location of servers and data to be a priority. And as soon as just two years from now.

Artificial Intelligence in the spotlight

To help organizations process data and maintain data security and privacy, artificial intelligence (AI) will be an essential ally. However, according to Gartner, organizations will have to be extremely careful in this regard since up to 40% of them have suffered a privacy breach related to the use of AI. The big problem will come in time when the regulation will also reach the AI-related area and the process of “untangling” the affected data will require a high cost for organizations to cope with in order to comply with the regulations that will then be in place.

Hybrid environments

With the spread of telecommuting after the onset of the pandemic and the proliferation of hybrid face-to-face/remote environments, companies are also affected by the potential threat to the privacy of customer and employee data and, according to the Gartner report, companies will need to change their approach to privacy by minimizing data monitoring.