While consumers continue to demand stronger personal data protections, companies are scrambling to keep track of an ever-evolving patchwork of applicable laws and regulations.
In this environment, cybersecurity professionals need to understand the current state of data privacy as well as where it's headed.
Below, we'll discuss what's next for data privacy regulation and how it will affect the role of CISOs within their organizations.
There has been a groundswell of concern about how personal information is acquired, used, stored, and sold in recent years, prompting governments to enact laws that regulate how consumer data is leveraged.
Although there is still no federal law protecting data privacy in the U.S., Gartner estimates that nearly 75% of the global population will have its personal data covered by privacy regulations by 2024.
In addition to acting as a boon for businesses and CISOs, advances have led to a rise in data privacy concerns.
Regulatory responses to these developments have made CISOs' jobs even more complex They are now required to find solutions that not only respond to the GDPR and CPRA and ever-evolving data privacy legislation, they also have to take into account burgeoning AI regulations such as the in the EU's Artificial Intelligence Act and & China's Internet Information Service Algorithmic Recommendation Management Provisions.
In practice, this all means that cybersecurity professionals need to develop innovative approaches for uncovering data risks and mapping AI use, all while getting ahead of enforcement.
There are several business reasons CISOs need to implement well-defined data privacy practices today that will hold up to future legislation.
The recent uptick of privacy rights requests reveals how people are pushing for more control over their data.
While consumer data can be useful for personalizing products and advertising, CISOs should remember that it's also necessary to implement efficient systems for putting privacy back into the hands of users.
Customers, clients, and vendors are also driving data privacy management and compliance.
Finally, Boards have a voice in data privacy practices and the systems used to comply with the expanding range of regulations.
As they continue learning how critical data privacy is for brand image and customer satisfaction, they'll expect CISOs to offer cutting-edge solutions.
To adapt to evolving technologies and regulations in 2024 and beyond, CISOs can start with three strategies: internal collaboration, privacy by design, and external partnerships.
This will enable the former to learn about the legal context of data privacy and the latter to weigh in on more granular solutions.
Second, CISOs must ensure that their solutions take privacy into consideration at every turn, across all levels of the workforce.
Such partners can help CISOs gain a holistic understanding of their organization's data privacy risks and keep pace as they evolve.
One thing is certain in 2024: data privacy needs to be top of mind for CISOs.
CISOs must plan for data privacy by working across teams, instilling a culture of privacy within all levels of the organization, taking privacy by design, and choosing the partners who can best assist them with discovery and monitoring so that they will be ready to adapt to whatever comes next.
This Cyber News was published on www.cybersecurity-insiders.com. Publication date: Tue, 09 Jan 2024 15:13:05 +0000