In 2024 , new legislations, technological advancements, and social trends will undoubtedly pose new data privacy challenges for businesses. In order to prepare for 2024 and operate your business effectively, you need to quickly adapt to the newest data privacy trends.
Proactive data privacy protection
Following a notable uptick in highly publicized and scandalous data privacy breaches, businesses are readjusting from minimal compliance to more proactive privacy protection. This is also in part because consumers are more aware of corporate failings to protect their privacy and thus demand more transparency.
In 2024, prioritizing consumer privacy will likely both ensure legal compliance but also distinguish an organization from less compliant and proactive competitors. This will require more robust data protection and privacy policies to prove companies are meeting legal standards and maintain customer trust.
Remote and hybrid work privacy
As more businesses embrace hybrid and remote work models, the need for increased personal data tracking and processing grows. However, this also increases privacy risks. Organizations need to recognize individual data privacy, collect the minimum amount of personal data, and disclose the purpose of collecting such data. Reasons for collecting employee data can vary from enforcing remote work security protocols and tracking employee productivity to improving employee experiences and removing inconvenient processes.
Emphasis on children internet usage
Legislators are renewing efforts to safeguard children’s online privacy, mirroring the California Age-Appropriate Design Code Act. States like Maryland and Minnesota are set to introduce similar legislation, while others, such as Florida and Utah, focus on enhancing child safety, especially in social media. Such legislation will significantly impact educational technology, forcing technology providers to adjust their policies and systems.
Recently issued legislation regarding AI will likely affect how AI is developed and used in the coming year. Notable recent regulations include:
Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence
This executive order, issued on October 20, 2023, introduced fresh standards for AI safety and security. Among its provisions, the order gives the Federal government authority to ensure AI can only collect, retain, and use data in ways that respect the law and personal privacy. In addition, the order mandates that AI system developers fully disclose safety test results and other crucial information to the US government.
Guidelines for Secure AI System Development
These guidelines were published jointly on November 27, 2023 by US Homeland Security, the UK National Cyber Security Centre, and 21 other agencies from multiple countries across the globe. They offer recommendations for providers utilizing AI systems, both brand new and modeled after existing systems. Adherence to these guidelines aids providers in constructing AI systems that operate as intended, without disclosing sensitive data to unauthorized parties.
Data management issues
Now that everything from social media platforms to smart appliances are capable of generating massive volumes of data, it’s become even more difficult to identify and protect sensitive information. Organizations need to invest in advanced data protection technologies capable of handling large volumes, enabling automated discovery of private information, and ensuring effective protection.
Traditional centralized security models have proven insufficient as data breaches continue to rise. Decentralized security models will probably gain prominence in 2024. Such models distribute data across multiple servers and networks. Blockchain technology, with its immutability and transparency, may play a crucial role. Emerging technologies like secure multiparty computation and homomorphic encryption will also contribute to the rise of decentralized security models, helping them achieve a balance between security and functionality.
Prepare your business and learn how to best protect your data by speaking with a Liberty Center One expert. Contact us today.