AI Tech to Drive Privacy Compliance
Within the next three years, artificial intelligence will power 40 percent of privacy compliance technologies. That’s up from 5 percent now, according to market research firm Gartner.
According to Gartner:
“Privacy leaders are under pressure to ensure that all personal
data processed is brought in scope and under control, which is
difficult and expensive to manage without technology aid. This is
where the use of AI-powered applications that reduce administrative
burdens and manual workloads come in.”
Among the drivers, according
to Gartner, is the need for organizations to respond quickly and
accurately to subject rights requests (SRRs). “According to the
2019 Gartner Security and Risk Survey, many organizations are not
capable of delivering swift and precise answers to the SRRs they
receive. Two-thirds of respondents indicated it takes them two or
more weeks to respond to a single SRR. Often done manually as well,
the average costs of these workflows are roughly $1,400 USD, which
pile up over time.”
Said Bart Willemsen,
research vice president at Gartner, “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.”
The need for privacy
compliance is creating a new technology market, one that Gartner
predicts will rise to $8 billion through 2022.
“The privacy-driven
technology market is still emerging,” said Willemsen. “What is
certain is that privacy, as a conscious and deliberate discipline,
will play a considerable role in how and why vendors develop their
products. As AI turbocharges privacy readiness by assisting
organizations in areas like SRR management and data discovery, we’ll
start to see more AI capabilities offered by service providers.”
For more information, visit gartner.com.