In early November of 2023, the International Association of Privacy Professionals (IAPP), a trade body of data protection specialists, published its yearly report on privacy governance. Coauthored with Ernst and Young, it shows improvement in how businesses take the issue into account.
Thirty-three percent of organizations have had their privacy teams expand over the past year. Seventy-eight percent of privacy heads are high-level executives at their company, and 50% are even senior management. The interdepartmental aspect of privacy protection is adequately taken into account, as 86% of respondents work with more than three departments within their corporate structure.
“An organization’s ability to adapt and thrive is increasingly tied to its capacity for integrating privacy protection in its overall strategic plan. Consumers, who are increasingly aware of their privacy rights, may favor other products or services in the absence of appropriate protection,” the report states.
However, 63% of those surveyed also recognize a lack of resources prevents them from reaching their goals. Only 20% can safely say their organization is fully compliant with current regulations on the issue. The effects of AI governance on data protection are also a significant source of concern for respondents.