If AI and automation are the engine, then data is the fuel...
This decade has been the most conducive time ever to start a business, with easily available relevant tools and channels enabling businesses to interact directly with the customers, collecting data at an unprecedented speed and volume. And due to the minimal cost of starting a business, in the UK alone, 589,000 startups were launched in the 2017.*
The data collected from various channels act as fuel for these startups, training their AI systems to predict the future. Moreover, in terms of automation, the simplest form is collecting customer data in subscription lists and sending automated emails. But, even this simple process is subject to data protection during data collection, storage, analysis, usage for marketing, decision making etc.
Customer data is collected by organisations of all sizes, from all industries, and in all geographic locations. However, despite customer personal data's great value to any business, in recent history, it has been exploited unscrupulously for commercial and political reasons, leading to the formation of General Data Protection Regulation (GDPR).
The information governing bodies in the EU have formulated guidelines and checklists on the best practises to safeguard personal data and give users control of it. derisk360 leverages these guidelines and offers GDPR compliance certification, by using our proprietary "weighted risk ranking" methodology.
Some of the benefits of GDPR compliance certification are:
Providing transparency and accountability
Creating effective safeguards in order to mitigate risk around data processing
Improving standards through establishing the best practise
Mitigating against enforcement action/penalty
Having a competitive advantage
Try our free 5-minute GDPR assessment. http://bit.do/esG4i
* Source: companies house