Intelligent CIO Europe Issue 9 - Page 51

CIO OPINION CIO opinion “ ADOPTING ROBUST DATA ENCRYPTION ENSURES SENSITIVE CUSTOMER AND COMPANY DATA IS PROTECTED AT ALL TIMES, REGARDLESS OF WHERE IT IS. ///////////////// Steve Armstrong Regional Director UK, Ireland and South Africa at Bitglass Taking the fast lane to GDPR compliance Now that GDPR has been implemented, we look at how companies are coping with the requirements. Implementing robust and secure data protection ensures constant security for customers and we hear from experts who tell us about this in more detail. T he European Union (EU) General Data Protection Regulation (GDPR) took effect on May 25, 2018, yet only 34.5% of nearly 500 professionals involved in GDPR compliance efforts say their organisations can demonstrate compliance with the new data privacy rules, according to a recent Deloitte poll. Litigation, regulatory and internal investigation challenges could abound for others. One third of respondents (32.7%) hope to be compliant within 2018. And 11.7% plan to take a ‘wait and see’ approach amid uncertainty over how EU regulators in various countries will enforce the new regulation. “The fact that the GDPR effective date has come and gone and many are still scrambling to demonstrate a defensible position on GDPR compliance reflects the complexity and challenges as the world of privacy rapidly changes,” said Rich Vestuto, a Deloitte Risk and Financial Advisory Managing Director in discovery for Deloitte Transactions and Business Analytics LLP. Third-party contract management for GDPR compliance Only 13.6% of respondents are confident that their organisations know what data third parties have and are leveraging Artificial Intelligence (AI) and other technologies to analyse and manage third party contracts for GDPR compliance. INTELLIGENTCIO 51