Read more about the challenge GDPR (General Data Protection Regulation) presents to businesses: how to protect user data and privacy, and at the same time use that protected data as part of innovative new business models. In this published article two members of our Data Pitch legal team, Alison Knight and Sophie Stalla-Bourdillon talk about the risks and opportunities for innovation and GDPR.
Why is GDPR important right now? The answer is that new GDPR EU data protection rules come into effect from 25 May 2018. Companies doing “business as usual” when it comes to Personal Data Analytics from that date risk financial penalties and legal problems.
All companies active in Europe who process personal data will be subject to the GDPR, and those doing Personal Data Analytics must find ways to be legally compliant that also enable them to realise the immense potential of Data Analytics. The GDPR also requires companies of all sizes to demonstrate to the relevant authorities in each country that they are carrying out their new data “stewardship” obligations for internal data use and external data sharing.
We all need to be prepared!