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Jason du Preez, vice president of privacy and security at Informatica, comments on why the companies that collect our data have the power and the responsibility to use it for the common good.
“AI’s rapid evolution presents enormous potential for companies that equip themselves to do good with data. At the same time, organisations must prepare to deal with the demands of citizens — ‘data subjects’ — empowered by laws and regulations to take control of how their data is used.

“Consumer expectations are moving compliance and the responsible use of data higher up the agenda - both with today’s privacy regulations and future, AI-focused legislation. Data governance, security and privacy are critical business priorities as a result.

“Responding to this, and then going further to drive innovation and competitive advantage with data, requires a holistic approach to data management. Understanding, protecting, distributing, and monitoring data universally and consistently and ubiquitously becomes a necessity. Aligning the approach to the context in which data is being used is critical, as different use cases demand different levels of control.”

And Shankar Haridas, UK Head, ManageEngine cautions it only ‘takes one loophole for an attacker to access data’, and there’s urgent need for global data regulations:
“Business leaders and stakeholders often underestimate the value of the data they maintain until they face a breach. It only takes one loophole for an attacker to access data, and unless an organisation is proactively reviewing its security posture, it’s at real risk of attack, with a response that’s often taken too late.
“Organisations should invest in data loss prevention solutions that monitor and prevent the leakage of sensitive corporate data. Beyond implementing stronger security measures, training staff on best practices and identifying clear red flags helps protect data.
“There is also an urgent need for global data regulations in this area. The UK’s Data Protection and Digital Information Bill is a welcome first step, but with AI being integrated into every aspect of business, disruptive technologies, like deepfakes and augmented reality, threaten data privacy and pose a significant risk to business. It’s increasingly important that regulators and businesses strike a balance that leverages the benefits of AI while limiting its destructive capacity. Data privacy is essential when it comes to policies around AI.”