Page 4 - AeM_May_2018

RESEARCH, ANALYSIS & TRENDS

Majority of businesses view GDPR more

as an opportunity to improve data

The IBM study, titled “The end of the beginning: The results reveal how companies are approaching the
Unleashing the transformational power of GDPR”, GDPR as an opportunity to boost customer confidence
reveals that nearly 60% of respondents see the General and drive innovation:
Data Protection Regulation (GDPR) as an opportunity to
improve privacy, security, data management, and  84% believe that proof of compliance with the GDPR
catalyst for new business models, rather than a is seen as a positive distinguishing feature in the
compliance issue or hurdle. public eye

To reduce risks, the study showed that most of  76% said the GDPR will provide more trusted
surveyed companies want to be more selective in the relationships with affected individuals which could
data they collect and manage, Seventy percent of the open new business opportunities
respondents said they wanted to dispose of data before
the compliance deadline.  Despite this opportunity, only 36% believe that they
will be able to fully comply with the GDPR by 25
Companies’ preparation for the GDPR is based on an May
increased scrutiny from consumers on businesses'
management of personal data. For instance, only 20% "GDPR will be one of the biggest disruptive forces
of consumers in the US trust the organizations they impacting business models across industries – and its
interact with completely regarding the confidentiality of reach extends far beyond the EU borders," said Cindy
their data. Compert, CTO, Data Security & Privacy, IBM
Security. "The onset of GDPR also comes during a time
In the weeks leading up to the appointed date (May 25, of huge distrust among consumers toward businesses
2018), the IBM Institute for Business Value (IBV) ability to protect their personal data. These factors
surveyed more than 1,500 executives responsible for together have created a perfect storm for companies to
complying with the GDPR at organizations around the rethink their approach to data responsibility and begin
world. to restore the trust needed in today's data-driven
economy."
4 May 2018 - Cyber-security & Data Protection