Data Regulations will Apply to Three-Fourths of the World's Population

Gartner's recent report, Top Privacy Trends Driving Your Business Through 2024, has charted the course for enterprise data privacy and protection trends over the next two years. The report is based on the assumption that data regulations will cover information about 75% of the world's population within the next two years.

“By year-end 2024, Gartner predicts that 75% of the world’s population will have its data covered under modern privacy regulations. This regulatory evolution has been the dominant catalyst for the operationalization of privacy. Since most organizations do not have a dedicated privacy practice, the responsibility for operationalizing these requirements is passed onto technology, more specifically security, under the umbrella of the CISO’s office,” said Nader Henein, VP Analyst at Gartner.

During this time, businesses will need to budget more than $2.5 million per year for data privacy. Privacy programmes, technology, and skills would be included to ensure compliance with increasingly stringent regulations. The following aspects must be prioritized:

Localization of Data

This will be a critical focus because privacy laws appear to be inconsistent, and the context of privacy must be relevant to the country of operation.

Utilization of Privacy-Enhancing Computation (PEC)

With the proliferation of AI models and the complexity of data collected through these channels, a tool for safer data processing and analysis will be desirable.

AI Governance Adoption

AI-based modules have been found to be very efficient for data analytics, but research has shown that they increase the risk of data privacy breaches. Most AI processing in businesses today pays little attention to the data leakages it may inadvertently allow.

CXO Restructuring in the New Normal

As the world begins to open up after two years of the pandemic, the flood of data-driven by rapid and urgent digital transformations across the board-will necessitate a completely new paradigm to deal with privacy.

Data-protection-as-a-Service Is Here (DPaaS)

Taking advantage of the panic generated by unplanned and, in many cases, knee-jerk digitization, many companies are now offering a Ready-to-go Data Protection Kit as a service model.