Data privacy or information privacy is a branch of data security concerned with the proper handling of data – consent, notice, and regulatory obligations. More specifically, practical data privacy concerns often revolve around:
- Whether or how data is shared with third parties.
- How data is legally collected or stored.
- Regulatory restrictions such as GDPR, HIPAA, GLBA, or CCPA.
It is afraid that there will be a risk between data privacy and discrimination. While customer information was collected and analyst automatically and accurately by AI, through those analyst data, people are concerning about the individualized discrimination while most of the information of customers are well caught even the most confidential data such as daily living habits, behaviour, surfing journey, even their biometric data such as DNA, genes, health conditions, personal incomes, and properly based on those, the services or products they purchased will be differed for each person, as some will be charged higher than others. And another about data privacy, there was an afraid that customer’s data is not only for assessment but also be sold to third parties for some purposes, while demographic data is precious for digital transformation games. Frankly the data disclosed in purposes will not happen at most of the companies, however, the concern of the data leaking or hacked are also considered as a private matter, while all organization need to implement well the cybersecurity unless customer’s data are stolen and create the business crisis, impact to be business performance somehow.
Why is Data Privacy Important?
There are two drivers for why data privacy is one of the most significant issues in our industry.
Data is one of the most important assets a company has. With the rise of the data economy, companies find enormous value in collecting, sharing and using data. Companies such as Google, Facebook, and Amazon have all built empires atop the data economy. Transparency in how businesses request consent, abide by their privacy policies, and manage the data that they’ve collected is vital to building trust and accountability with customers and partners who expect privacy. Many companies have learned the importance of privacy the hard way, through highly publicized privacy fails.
Second, privacy is the right of an individual to be free from uninvited surveillance. To safely exist in one’s space and freely express one’s opinions behind closed doors is critical to living in a democratic society.
“Privacy forms the basis of our freedom. You have to have moments of reserve, reflection, intimacy, and solitude,” says Dr. Ann Cavoukian, former Information & Privacy Commissioner of Ontario, Canada.