May 25, 2022
GDPR and Trust Intelligence: Connecting the Dots
2 Min Read
Today marks the fourth anniversary since the General Data Protection Regulation (GDPR) took effect, creating a domino effect and re-evaluation of privacy rights across the globe. Many of the privacy laws passed since the GDPR became enforceable on May 25, 2018, have built upon the regulation to ensure that people have more control over what data they share and how it’s used. And four years later, the conversation continues about how to create a global standard of privacy.
We’ve watched how digital transformation has resulted in massive cultural shifts in the ways businesses collect, use, and protect data. This shift has empowered stakeholders to rethink who to buy from, work for, and invest in based on societal distrust and data sprawl from the recent work-from-home IT model. Companies are looking for a new competitive edge and a way to transform their business, and trust is emerging as the new gold standard for business success.
Trust is fast becoming a board-level required strategy, as IDC predicts two-thirds of the G2000 boards will ask for a “formal trust initiative that executes a roadmap to increase an enterprise’s security, privacy protections and ethical execution by 2025.”
And while the GDPR launched a new era of consumer privacy and shaped the way businesses are expected to operate with regard to their data, companies are now being tasked to understand, measure, and manage trust beyond data leading to a trust transformation in global companies. Chief Trust Officers must now find a solution to gain insight across all trust domains, automation, and real-time regulatory intelligence to enable trust initiatives by design – and delivering value is dependent on breaking down silos across privacy, security, ethics and compliance, and ESG and sustainability.
The Trust Intelligence Platform from OneTrust was launched this week at TrustWeek, establishing a new category of technology to help CPOs, CMOs, CDOs, CFOs, and Chief Sustainability Officers find success through their trust transformation journey while creating bottom-line impact.