Gartner Names Digital Ethics and Privacy to Strategic Technology Trends for 2019

Gartner has identified the top ten strategic technology trends for 2019 and privacy is on the list. For those in the privacy field, this should come as no surprise following the adoption of the European Union General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). Businesses which have used technology to collect personal data for data-driven decision making over the past decade are now faced with new laws governing the information that they must provide to consumers about that collection.

However, regulatory compliance does not appear to be the top reason that privacy made the Gartner list. Instead, it is because privacy is a critical business issue among consumers and necessary to continue to earn their business. According to a 2017 survey cited by Gartner, “87% of consumers say they will take their business elsewhere if they don’t trust that a company is handling their data responsibly.” Following the Facebook – Cambridge Analytica scandal and the increased focus on data privacy this year, there is no doubt that Gartner is right: “Digital ethics and privacy are becoming critical elements of any technology decision.”

Consumers are increasingly demanding control over their data and they are concerned with how their personal information is being used by organizations. According to Gartner, the implication of this trend extends beyond doing solely what the law requires you to do. Instead, businesses need to focus on acting ethically with respect to their consumer data in their technological practices.

Organizations must be proactive at improving their privacy practices in order to avoid a “backlash” by the people increasingly concerned about how their personal information is used. If organizations do not adapt, they will find the implications costly. Gartner says:

1. “By 2020, we expect that companies that are digitally trustworthy will generate 20% more online profit than those that aren’t.”

The importance of privacy to businesses is put plainly by Gartner:

“Companies that misuse personal data will lose the trust of their customers. Trustworthiness is a key factor in driving revenue and profitability. Building customer trust in an organization is difficult, but losing it is easy. However, organizations that gain and maintain the trust of their customers will thrive.”

2. “By 2021, organizations that bypass privacy requirements and are caught lacking in privacy protection will pay 100% more in compliance cost than competitors that adhere to best practices.”

Businesses that delay implementing privacy protections due to the short term cost will ultimately pay more in the long run, according to Gartner.

If your organization has questions about how to improve data privacy protections and increase customer trust, please call Clarip at 1-888-252-5653 for a free demo of our enterprise privacy software.

More Blog Posts from Clarip:

The Time to Enhance Data Privacy Practices is Now
Data Privacy Ranks Second for Top Marketing Challenge in 2019
Privacy & Security – A Review of 2018 and Some Predictions for 2019
Data Privacy Named Top 5 Risk for Business in 2019

EU GDPR
– GDPR Compliance
– Consent Management Software
– GDPR Data Mapping Software
– DSAR Portal
– GDPR Text

California Consumer Privacy Act
– CCPA Summary
– CCPA vs GDPR
– CCPA Privacy Software
– CCPA Webinar