Anticipated to influence the legal terrain of data, here are six trends in 2024 that are likely to shape the landscape in the years ahead.
1
Advancing Adoption of AI
The previous year witnessed the widespread embrace of generative artificial intelligence (AI), presenting governments and organizations with intricate dilemmas on adapting to AI’s challenges and opportunities. Many enterprises possess extensive data repositories, prompting the exploration of additional value and efficiencies through AI.
2
Increasing Complexity and Global Alignment of Privacy Regulations
The year 2023 marked the continual expansion of privacy regulations globally, with an increasing number of countries adopting comprehensive privacy laws. While each jurisdiction maintains its unique approach to privacy regulation, common elements are emerging across these laws.
3
Businesses Respond to a Shifting Cyber Risk Landscape
Businesses are facing heightened awareness regarding two significant risks – ransomware and insider threats. To tackle these emerging challenges, companies will require actionable insights to significantly enhance their ability to respond to future incidents.
4
The strengthening of
Data Portability rights
There is growing empowerment for companies to seamlessly move and transfer their data between platforms, fostering increased control and flexibility over their digital information. This evolution reflects a heightened emphasis on user-centric data management, promoting privacy and data autonomy in the digital landscape.
5
Rising Threat of Data Litigation
High-profile and extensive data breaches have always posed the risk of expensive and reputationally damaging mass litigation, and such claims persist. Data breaches and evolving case law and legislation are some of these recent trends indicating that data litigation should remain a primary concern for numerous organizations.
6
Businesses Globally Prioritize Acquiring Valuable Datasets
Persistent issues related to data, such as data ownership and data protection, will continue to be crucial in mergers and acquisitions (M&A). Moreover, new challenges have risen, such as when buyers seek to acquire artificial intelligence (AI) related assets, or when developments in international data transfers require consideration.
Connect with SIFT Analytics
As organisations strive to meet the demands of the digital era, SIFT remains steadfast in its commitment to delivering transformative solutions. To explore digital transformation possibilities or learn more about SIFT’s pioneering work, contact the team for a complimentary consultation. Visit the website at www.sift-ag.com for additional information.
About SIFT Analytics
Get a glimpse into the future of business with SIFT Analytics, where smarter data analytics driven by smarter software solution is key. With our end-to-end solution framework backed by active intelligence, we strive towards providing clear, immediate and actionable insights for your organisation.
Headquartered in Singapore since 1999, with over 500 corporate clients, in the region, SIFT Analytics is your trusted partner in delivering reliable enterprise solutions, paired with best-of-breed technology throughout your business analytics journey. Together with our experienced teams, we will journey. Together with you to integrate and govern your data, to predict future outcomes and optimise decisions, and to achieve the next generation of efficiency and innovation.
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