The last several years have seen an increase in the number and size of data breaches, as well as heightened scrutiny of digital privacy. As a result, there is increased anxiety among individuals and businesses about the security of their personal information online. To address these concerns, new laws has been enacted; but, what does the future of digital privacy look like, and how can we best safeguard ourselves?
Recent Data Breaches
In recent years, data breaches have frequently made headlines. The extent of these breaches is startling, ranging from the 2017 Equifax breach, which exposed the personal information of 147 million people, to the 2020 Marriott breach, which exposed the personal information of 500 million customers. These occurrences have demonstrated that no institution is immune to cyberattacks and that everyone's personal information is vulnerable.
These data breaches can have disastrous consequences. People's identities and personal information can be stolen and used fraudulently. Customers may lose trust in organizations as a result of reputational and financial losses. With the rising frequency and magnitude of data breaches, it is evident that enterprises must take digital privacy seriously.
New Regulations
New law has been enacted to address the growing concern about digital privacy. The European Union's General Data Protection Regulation (GDPR), which went into effect in May 2018, is one of the most important pieces of legislation. Individuals have more control over their personal information under the GDPR, which requires enterprises to seek explicit consent before collecting, processing, or retaining personal data. It also requires firms to notify individuals within 72 hours of discovering a data breach.
The California Consumer Privacy Act (CCPA) entered into effect in the United States on January 1, 2020. The CCPA grants California residents the right to know what personal information is being collected about them, the ability to have that information destroyed, and the right to opt out of the sale of that information. Additionally, the CCPA requires businesses to make specific disclosures regarding their data collecting and sharing methods.
The Implications for Digital Privacy
These new pieces of law will have a huge influence on digital privacy. People are becoming more conscious of their rights in terms of personal information, and companies are expected to take precautions to secure it. The GDPR, for example, compels enterprises to put in place sufficient technical and organizational safeguards to ensure personal data security.
These laws, however, are not without their difficulties. Companies must comply with many sets of regulations, and there is still some ambiguity about what is required to be in compliance. E.g. The GDPR applies to enterprises that collect and process personal data about European Union citizens, regardless of where the organization is located. As a result, many firms outside of the European Union must nevertheless comply with the GDPR.
The Future of Digital Privacy
A mix of technology breakthroughs and regulatory developments will most likely influence the future of digital privacy. Advances in encryption and artificial intelligence are anticipated to play a big role in securing personal information on the technological front. Encryption can help safeguard data at rest and in transit, and artificial intelligence can assist in detecting and preventing cyberattacks.