Do you know 40% of privacy compliance tech will rely on AI by 2023
Gartner found that 40% of privacy technology will rely on artificial intelligence (AI), up from 5% currently in next 3 years. In past 3 years Data breaches increased by 17% in 2019, with nearly 60% of businesses suffering from data breach.
Data breaches coming into focus in 2019, security leaders are looking for new ways to keep personal information safe and risks became so severe that governments took action, enforcing regulations including California Consumer Privacy Act to keep users safe and GDPR
Vice president at Gartner further said that, there are various reasons, but speed and repeatability of data-governing actions and the ability to manage large volumes in similar ways are a few drivers behind AI-powered privacy aid tooling. However this will continue to increase with the coming of 5G networks and the unprecedented volume of data exchanged.
Another reason he raised is of Personal data, it’s not just about names, addresses and SSNs, Artificial Intelligence is capable of recognizing patterns and contextualized or identifiable data, discovering that data faster than conventional, (rule based) systems.
AI privacy compliance mainly relies on effective handling subject rights requests (SRRs) and it enable individuals to make specific requests regarding their data, leaving organizations to respond accordingly for their success.
Two-thirds of respondents said it takes them at least two weeks to respond to a single SRR, however these tasks are often done manually, they end up costing an average of $1,400, the report found.
Privacy Data is hard to manage across systems, if they are insufficiently able to control the personal data lifecycle.