Reference no: EM133568181
Question: Privacy is a fundamental human right, and this extends to privacy in the online world as well! In today's world one cannot escape engaging in online activities, which translates into sharing data online. It therefore becomes imperative that data is handled and stored with care and thought. Observing 28 January as Data Privacy Day/Data Protection Day is an acknowledgement of the importance of data privacy and data security. While a lot has been written about how the pandemic put digitization on the fast track, the importance of data privacy was known in 2006, when the constant exponential increase in the amount of data generated led to the Council of Europe launching a Data Protection Day to create awareness about the right to protection and privacy of personal data. January 28 was the date on which the Council of Europe's data protection convention, known as "Convention 108", was opened for signature.
The pandemic saw the total worldwide data generated rise. Going forward, Web 4.0 and the Metaverse along with 5G will also contribute to this proliferation along with the Internet of Things and decentralised and distributed cloud computing. By 2025, it is estimated that more than 150 zettabytes of big data will need analysis.
Needless to say, such an explosion of data will require companies of all sizes to have a clear and robust privacy policy. A transparent policy establishes trust with users by being open about how their data is collected, used, and protected. There is also the necessity for companies to comply with relevant laws and regulations. General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) in California are two examples of Data Privacy laws. A clear privacy policy can also help mitigate the risk of data breaches and other security incidents by setting clear guidelines for data handling and storage.
In the pre-pandemic world, the main tenets of data privacy policies and regulations were focused on protecting individuals' personal information and ensuring that companies handle and use data responsibly. With the rapid penetration of data across verticals like supply chain, utilities, healthcare, automotive, and consumer durables, many CISOs and CIOs are now implementing Zero Trust Architecture to control the breadth and volume of digital interaction and attack surfaces.
The new era of digitalization offers huge economic and social opportunities; it also changes the nature and magnitude of cyber risks and creates new vulnerabilities that cyber attackers can exploit. Today, leading global businesses and government departments are targeted with growing frequency. It is estimated that 45% of firms worldwide will experience supply chain attacks by 2025, a threefold increase from 2021.
The shift to remote work and increased use of digital platforms for communication, collaboration, and e-commerce have led to an increase in the generation, collection and processing of personal data. This has created new challenges for companies in terms of data security and compliance with data privacy regulations. With the development and deployment of contact tracing apps, there are now rising concerns about the potential for misuse of personal data, including the possibility of government surveillance.
The EU and EEA's General Data Protection Regulation (GDPR) came into effect in 2018 and Ireland was one of the first countries in the European Union (EU) to fully implement it. The GDPR is considered to be one of the most comprehensive data protection laws in the world with strict rules on how companies can collect, use, and share personal data. The GDPR prohibits transfers outside the EU without adequate safeguards. The Schrems II judgement invalidated the Privacy Shield in 2020, which allowed companies to export data to the U.S. With major aspects codified into it, ISO 27701's Privacy Information Management System can be a framework for ensuring that organisations are GDPR compliant.
Undoubtedly, in 2023, data privacy and cybersecurity will continue to be major concerns for individuals and organizations.
Organizations will need to comply with these regulations by implementing strict data protection policies, such as regular data audits, employee training on data privacy, and the appointment of data protection officers. Companies will also find themselves increasingly using technologies such as encryption and multi-factor authentication to secure sensitive data. With the rise of remote work, there continues to be an increased need for secure remote access solutions to ensure that sensitive data remains protected when accessed outside the office
The EU's data protection laws have long been regarded as a gold standard all over the world. Over the last 25 years, technology has transformed our lives in ways nobody could have imagined so a review of the rules was needed. Ireland has a strong and growing technology sector, including a reputation for data innovation and data privacy. Many global companies have established their European headquarters in Ireland to take advantage of the country's business-friendly environment, skilled workforce, and strong data protection laws. With a growing cybersecurity industry, Ireland has launched a number of initiatives to promote the development of cybersecurity expertise and technologies. The National Cyber Security Centre (NCSC) provides guidance and support to organizations in Ireland to help them protect their systems and networks from cyber threats.
Data privacy and security are crucial for individuals and organizations alike. While laws provide individuals and organizations with control over their data and information and set strict guidelines for organizations handling personal data, data breaches can still occur. It is therefore essential for individuals and organizations to embed privacy into processes and have robust data privacy and security measures in place. By being vigilant and prioritizing data privacy and security, the government and organizations can remain safe from potential harm.