The GDPR paradox: how data regulation creates revenue streams
The global installation base for home smart speakers is predicted to grow to 225 million by 2020. The much-vaunted 5G telecoms rollout promises leaps in Internet of Things and smart city innovation. Wearable fitness technology increasingly goes beyond step counting and heart rate monitoring to provide deep insights into our health.
As the huge data sets that companies can now leverage become ever more integrated into consumer-facing products – and as the hype dies down following last May’s General Data Protection Regulation deadline – one could be forgiven for expecting data regulation compliance efforts to be low on the list of priorities for 2019. As the GDPR, like the cookie notice, becomes an accepted part of everyday life, surely our collective attention will turn back to shiny innovation?
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More than compliance
In fact, the journey towards compliance is only just beginning. This is partly because few were ready for the GDPR when it came into force. On one side, businesses were not prepared: as of last May over 80% of organisations had not yet completed basic data discovery exercises to assess the scale of the task. On the other side, the regulation could not yet be suitably enforced: 17 of
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