Data privacy and ethics – supported by Artificial Intelligence

Artificial Intelligence is increasingly adopted by mand industries and our day-to-day lives. The concept of AI is what drives intelligent robots, self-driving cars, facial recognition technology, smart assistants like Siri or Alexa, chatbots, as well as, machine learning algorithms.

Although the exponential growth of AI technology is exceeding the speed at which regulations can keep up, there have been frameworks including the EU guidelines on AI ethics, OECD Principles on AI and Singapore’s Model AI Governance Framework

It cannot be reiterated enough: personal information is property that belongs to the consumer, which companies must handle with a certain duty of care.

That makes privacy compliance a much more complex challenge. Businesses need to make a "culture of privacy" more of a priority, in much the same way anti-corruption activists like the Integrity Initiative and partners stressed the importance of a culture of compliance in the 2010s. A culture of privacy and security will be the watchword for the 2020s.

Artificial intelligence

The concept of artificial intelligence (AI) is not something new to the public, we have seen it in sci-fi movies and increasingly in our daily lives as well. One of the most prevalent usages of artificial intelligence technology is facial recognition software. Facial recognition software is advancing far more quickly than regulation can handle it. The usage of artificial intelligence is increasing and transforming industries such as law enforcement, retail, hospitality, marketing and advertising, events, social media and entertainment. The primary motivation for businesses to use AI is to provide greater convenience and a seamless experience for consumers.

How to optimize the GRC management framework for the success of the company

The hallmark of a successful organization is one that is focused on achieving its objectives, able to keep its eye on the complex uncertainties and opportunities that surround it, and at the same time, act with integrity. You can imagine it would be quite challenging to manage this at every level, from the top management to every business function unit. It is like having a rowing team – all the effort focused in one direction, with every rower rowing in unison to maximize the momentum of each pull.

What are the areas that an organization should take care of?

The “culture of privacy”.

It cannot be reiterated enough: personal information is property that belongs to the consumer, which companies must handle with care.

That makes privacy compliance a much more complex challenge. Companies need to think more about what's best for the consumer as we handle personal data, as well as how to accommodate the consumer and the rights he or she might exercise under various privacy regulations.

In short, businesses need to make a "culture of privacy" more of a priority, in much the same way anti-corruption activists like the Integrity Initiative and partners stressed the importance of a culture of compliance in the 2010s. A culture of privacy and security will be the watchword for the 2020s.

The boom of big data management and analytical data simulations has served businesses well, but the data ethics in business and privacy aspects of such work are still in question.

With Data Privacy Acts and the introduction of the EU’s GDPR, and the US wanting similar regulations, the GDPR has had a positive worldwide impact. Organizations must now look at their data through an ethical lens, making sure that all guidelines are followed, and understand the ethical responsibilities of managing such large streams of data.

NPC tells online lenders to stop excessive collection of data

Companies need to think more about what's best for the consumer as they handle personal data, as well as how to accommodate the consumer and the rights he or she might exercise under various privacy regulations.

It's important to note that Cyberattacks in the Philippines almost doubled to 4.88 million cases from January to June this year compared to the same period of 2020.

Honestly, hackers are no match for human error. A company's employees are its biggest risk and greatest assets. This means that a major component of reducing data breach risks is training your employees.

Extensive training for employees is readily available. Excellent automation of data protection processes for Data Protection Officers is available too. Let me know whether you need assistance. Feedback and requests for support can be directed to [email protected]