This Week in Data – 31 May

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One year after GDPR, are we any safer?

Hard to say. On the other hand, marketers have something to say about it: things are good!

Wait, what? Yeah! According to DMA, 41% of people say they are more confident brands handle their data correctly. ResearchLive asked a bunch of marketers what they think, and the results are pretty solid. Overall, they say, the impact has been fairly good. Especially when the laws have triggered companies to think a lot harder about their existing processes.

THE TAKEAWAY:

“Data protection is now even more at the heart of every single step of our research process – producing data flows and assessing respondent risk; ensuring appropriate agreements are in place with suppliers and clients; considering our legal bases where consent may not be appropriate, and managing respondents’ requests where they exercise their rights.”

 

Prepare for your bank to pamper you

Well, kinda. The treasure trove of data from all sorts of places means banks are dipping their fingers and toes into new products, and some of those are lifestyle services. As the Australian Financial Review points out, open banking means we might soon see digital-only banks offering services like healthcare, phone or utility services. Makes sense on the surface. Will people want to share their data so readily? We’ll find out!

THE TAKEAWAY:

“Certain parts of the business model, such as short-term lending, are really quite attractive propositions for different players other than the established banks to be in. And I think we will see those kinds of entries over time, and some may come sooner rather than later.”

 

Intel is…writing legislation now, apparently

Companies do this all the time, but it’s still somewhat strange! A year after the GDPR laws came into effect, there is growing momentum in America for similar changes (especially after California lawmakers championed their own laws). Intel’s new proposed legislation would stop companies from being punished if they can certify their compliance.

Mmk.

THE TAKEAWAY:

“Intel’s proposal is not a copy of GDPR, but it does share the goal of strong enforcement with it. The Intel draft is a law tailored for the U.S.’s unique history and ethos of entrepreneurship and innovation, but it does learn from some of the main lessons from GDPR.”

 

Singapore puts data onus on businesses

One of the leaders in the international debate over data privacy, Singapore is crafting new laws and ways for people to be protected. The country’s next step is to put pressure back on businesses. It isn’t just enough to be compliant, they say. They want businesses to be held accountable at a higher standard.

Last year, GDPR. This year: the United States and Singapore move forward on privacy. Seems like the storm is a-brewin’.

THE TAKEAWAY:

“Data is a key enabler of digital transformation, but a balance must be achieved between data protection and business innovation. We are taking firm steps to position Singapore as a trusted data hub in the global Digital Economy by seeking feedback on the proposed data portability and innovation provisions, as well as testbedding data breach notification measures,” said Yeong Zee Kin, the deputy commissioner of PDPC.”

 

Xi hits back and encourages international cooperation on data

Just after the United States struck a blow to Huawei by banning federal agencies from buying the company’s products, China president Xi Jinping hit back saying the international community should cooperate on data, AI and technology. Especially data. Sure, but also, given the amount of emphasis placed on data privacy in western nations…it doesn’t seem like cooperation is coming any time soon.

THE TAKEAWAY:

“The Huawei ban is a “rough’’ disruption to the market, Wang Zhijun, vice head of the Ministry of Industry and Information Technology, said in an interview on state broadcaster China Central Television. He urged the U.S. government to stop “unreasonable suppression” of China’s integrated circuit and electronic companies.”

 

That’s our wrap for this week. Thanks for reading – we hope you found it entertaining and informational. We’d love to hear your thoughts on these articles and anything else data related! Email us anytime at enquiries@datarepublic.com!

Until next week,

Team Data Republic