GDPR providing a competitive edge for companies

It has been over a year since the European Union launched the General Data Protection Regulation (GDPR), designed to give consumers more control over how their personal information is used. As expected, it started a wave of similar legislation, including the upcoming California Consumer Privacy Act (CCPA).

According to the Capgemini Research Institute, being proactive with GDPR and other privacy compliance programs brings big benefits and a competitive advantage. Its Championing Data Protection and Privacy – a Source of Competitive Advantage in the Digital Century report highlights how companies can gain an edge if they overcome compliance challenges.

But only 28% of companies said they were compliant with GDPR today, while another 30% said they were close to compliance. Read how data protection and privacy is a mindset that needs to permeate an entire organization to be successful.

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How to manage data protection and privacy regulation

Use AI for data discovery and improved data management

  • Enable data discovery through AI to get a clearer picture of the data
  • Augment data encryption using AI
  • Create global data protection register

Industrialize risk assessment and breach mitigation

  • Augment protection through Security Operations Centers (SOCs)
  • Leverage platform and cloud for data protection

Embed data protection and privacy throughout the company

  • Establish integrated governance, risk management, and compliance
  • Audit external vendors
  • Enhance accountability and privacy values

Brand and GDPR

81%

Said GDPR has had a positive impact on reputation or brand image

84%

Said trust had increased

76%

Said they had seen a revenue increase