According to Gartner Inc, more than 40 percent of privacy compliance technology will start relying on artificial intelligence by 2023. Presently the reliance on AI is at 5 percent.
To bring all personal data under control and in scope is an expensive work for the privacy leader. Privacy leaders are being pressurized to ensure that the same would happen. It can be made easier using technology.
"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," Bart Willemsen, Research Vice President at Gartner, said in a statement.
This is where the use of AI-powered applications that reduce administrative burdens and manual workloads come in.
"More than 60 jurisdictions around the world have proposed or are drafting postmodern privacy and data protection laws as a result. Canada, for example, is looking to modernize their Personal Information Protection and Electronic Documents Act (PIPEDA), in part to maintain the adequacy standing with the EU post-GDPR," Willemsen added.
Positive privacy user experience
At the forefront of a positive privacy user experience (UX) is the ability of an organization to promptly handle subject rights requests (SRRs).
SRRs cover a defined set of rights, where individuals have the power to make requests regarding their data and organizations must respond to them in a defined time frame.
"The speed and consistency by which AI-powered tools can help address large volumes of SRRs not only saves an organization 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," noted Willemsen.
Through 2022, privacy-driven spending on compliance tooling will rise to $8 billion worldwide.
Gartner expects privacy spending to impact connected stakeholders' purchasing strategies, including those of CIOs, CDOs, and CMOS.