GDPR affects every company, but the hardest hit will be those that hold and process large amounts of consumer data: technology firms, marketers, and the data brokers who connect them.
Even complying with the basic requirements for data access and deletion presents a large burden for some companies, which may not previously have had tools for collating all the data they hold on an individual.
But the largest impact will be on firms whose business models rely on acquiring and exploiting consumer data at scale. If companies rely on consent to process data, that consent now has to be explicit and informed – and renewed if the use changes.
You have the power to hold companies to account as never before. If individuals begin to take advantage of GDPR in large numbers, by withholding consent for certain uses of data, requesting access to their personal information from data brokers, or deleting their information from sites altogether, it could have a seismic affect on the data industry.
GDPR applies only to the EU, but given the scale of the market, many companies are deciding it’s easier – not to mention a public relations win – to apply its terms globally. Apple’s privacy tools are worldwide, for instance, as are Facebook’s (although the latter won’t promise to apply every aspect of GDPR globally, noting that the rules may clash with privacy regulations in other jurisdictions).
- ACPM - What is GDPR
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