EY - Privacy trends 2014

Privacy trends 2014

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With the digital revolution, consumers have seized the power to dictate what they want, when they want it, whom they buy from and how much they want to pay.

Organizations, eager to please the voracious appetites of these super consumers, seize any opportunity available, often through an ever-emerging array of new technologies, to communicate, build relationships, gather reams of data and sell. But at what cost?

Every time consumers browse the internet, log on and post to a social media site, or shop online, they are voluntarily — and sometimes involuntarily — giving away bits of information about themselves. Organizations gleefully collect these petabytes of data to better serve, market and sell.

Yet both consumers and organizations often leave themselves vulnerable to disreputable entities that want this personally identifiable data for themselves.

This year, our privacy trends report primarily focuses on technology. Specifically:

  • Technology trends have privacy implications
    Technology has fundamentally transformed the notion of privacy — what it means to affected stakeholders (individuals, regulators, organizations) and how each party can remain accountable in a world that technology has turned on its head.
  • Regulations fall behind as new technologies emerge
    Today’s privacy regulations seem completely inadequate to protect individuals from the privacy risks that emerging technologies present. Yet, in the face of such daunting challenges, privacy commissioners and regulators around the world forge ahead.
  • To be accountable, organizations need to innovate
    Governments are making valiant efforts to protect privacy, but they cannot do it alone. Accountability for privacy and personal data protection needs to be a joint effort among governments, privacy commissioners, organizations and individuals themselves.

Privacy professionals, regulators and organizations need to work together to innovate new approaches that entrench privacy as a standard rather than an anomaly. The future will require a fundamental change by all stakeholders in how we view privacy and what we are willing to do to protect it.