By 2023, Over 40% privacy compliance tech will rely on AI
Over 40 per cent of privacy compliance technology will rely on artificial intelligence (AI) by 2023. This means it will be up from the current 5 per cent, Gartner Inc., predicted on Tuesday.
Privacy leaders are under pressure to ensure that all personal data processed is brought in scope and under control, which is difficult and expensive to manage without technology aid.
"Privacy laws, such as General Data Protection Regulation (GDPR), presented a compelling business case for privacy compliance and inspired many other jurisdictions worldwide to follow," Bart Willemsen, Research Vice President at Gartner, said in a statement.
This is where the use of AI-powered applications that reduce administrative burdens and manual workloads come in.
"More than 60 jurisdictions around the world have proposed or are drafting postmodern privacy and data protection laws as a result. Canada, for example, is looking to modernise their Personal Information Protection and Electronic Documents Act (PIPEDA), in part to maintain the adequacy standing with the EU post-GDPR," Willemsen added.
At the forefront of a positive privacy user experience (UX) is the ability of an organisation to promptly handle subject rights requests (SRRs).
SRRs cover a defined set of rights, where individuals have the power to make requests regarding their data and organisations must respond to them in a defined time frame.
"The speed and consistency by which AI-powered tools can help address large volumes of SRRs not only saves an organisation excessive spend, but also repairs customer trust. With the loss of customers serving as privacy leaders' second highest concern, such tools will ensure that their privacy demands are met," noted Willemsen.
Through 2022, privacy-driven spending on compliance tooling will rise to $8 billion worldwide.
Gartner expects privacy spending to impact connected stakeholders' purchasing strategies, including those of CIOs, CDOs and CMOs.
*Edited from an IANS report