Over 40% of privacy compliance technology will rely on AI (artificial intelligence) in the next three years, up from 5% today, according to global technology research and advisory company Gartner.
The research firm found that the privacy leaders are under pressure to ensure that personal data processed is brought in scope and under control. This is difficult and expensive to manage without the help of technology.
The 2019 Gartner Security and Risk Survey was conducted to understand how risk management planning, operations, budgeting and buying are performed. The research was conducted online among 698 respondents in Brazil, Germany, India, the U.S. and the UK.
“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. More than 60 jurisdictions around the world have proposed or are drafting postmodern privacy and data protection laws as a result,” Bart Willemsen, research vice president at Gartner, said
For instance, Canada is looking to modernise its Personal Information Protection and Electronic Documents Act (PIPEDA), in part to maintain the adequacy standing with the EU post-GDPR, Gartner said.
This is where the use of AI-powered applications comes in picture and reduces administrative burdens and manual workloads come in.
Gartner also expects that by 2022, the privacy-driven spending on compliance tooling will rise to $8 billion worldwide, it is expected that privacy spending will impact connected stakeholders’ purchasing strategies, including those of CIOs, CDOs and CMOs.
AI-powered privacy technology lessens compliance headaches
At the forefront of a positive privacy user experience, is the ability of an organisation to handle SRRs (subject rights requests). 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.
According to the survey, many organisations are not capable of delivering swift and precise answers to the SRRs they receive. Two-thirds of respondents indicated it takes them two or more weeks to respond to a single SRR.
“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,” Willemsen said.