29 Jan The Growing Relevance of Data Privacy in 2024- Part 2
Data is central to corporate daily operations, and leaders must be knowledgeable in the intricacies of data privacy and protection.
As the digital landscape continues to evolve, it is transforming the way organizations, industries, societies, and individuals operate and interact with each other.
In the first part of the series, we spoke to Positive Technologies, Netskope NETCOUT about data privacy requiring a result-driven approach, a delicate balance between innovation and regulation and the need to have data privacy activists and advocates within a business.
Now, two more experts comment on the digital landscape and evolving regulations.
Securing every potential entry point is a must
Companies in the MENA region spent $2.8 billion on cybersecurity last year, according to a report by Gartner. In today’s digital landscape, a skilled and experienced IT team is no longer a mere advantage; it’s an absolute necessity for business success. Having a proficient and seasoned IT team is not just an asset but an essential requirement for achieving business success.
With malicious actors employing progressively sophisticated methods such as phishing, vishing, and exploiting voice networks, businesses face constant threats. To protect against costly data breaches and ensure compliance with new legislation that is being adopted across the MENA in line with regional countries’ ongoing digital transformations, companies need to take proactive measures to secure every potential entry point, ensuring there are no vulnerabilities left unaddressed.
The cyber threat landscape is evolving rapidly, demanding a sturdy cyber security policy to defend our most valuable assets including personally identifiable data. Facing increasingly sophisticated attacks on an expanding attack surface, private sector companies should look for opportunities to foster collaboration with the public sector to foster trust, online safety, and accountability.
This commitment to a secure future of work and a skilled workforce will not only solidify our global standing but also align with the region’s vision of digital transformation and public infrastructure. Pre-emptive cybersecurity technology, including Threat Intelligence and Endpoint Detection & Response (EDR) solutions, and widespread awareness programs are crucial investments in achieving these ambitious goals. – Ashraf Koheil, Regional Sales Director META for Group-IB.
Moving away from data collection and storage
As AI becomes indispensable, so does its role in cybersecurity. Its ability to sift through mountains of data for anomalies makes it the perfect shield against cyber threats. The creation, sharing, processing, and storage of data, alongside the vast amount of personal information associated with nearly every individual worldwide, make it evident that ensuring data privacy is impossible without robust data security measures.
It is crucial for every individual to recognize their entitlement and capability to safeguard and oversee their personal data. Similarly, organizations need to comprehend the significance of protecting their customers’ data. And so, at VAST Data, we have developed a data platform designed to meet the strict security standards of regulated industries like the public sector, healthcare, and finance. By providing a robust, secure, and compliant data platform, VAST enables organizations in regulated industries to focus on their core business objectives while ensuring that their sensitive data remains protected.
All in all, 2023 saw a global race to design a data ecosystem that fuels innovation without compromising individual privacy. This led to businesses overhauling their approaches to find creative ways to serve customers and comply with evolving regulations. – Haidar Aziz, Managing Director Middle East, Turkey & Africa at VAST Data.