February 06, 2023
Kannan Subbiah
FCA | CISA | CGEIT | CCISO | GRC Consulting | Independent Director | Enterprise & Solution Architecture | Former Sr. VP & CTO of MF Utilities | BU Soft Tech | itTrident
Even though enforcement of data privacy laws in California and New York laws have been slightly delayed, and California regulations implementing the new AI law are not yet fully baked, businesses should be employing expert consultants now to be ready when enforcement begins.?Platz notes that in the working world -- and especially in an environment that is often largely remote with employees around the country and the world -- these new privacy laws will affect employees beyond the states that enacted the laws if they live and work in different locations.?“With flexibility to work from virtually anywhere, this legislation will have wide reaching impact across states and sectors and will only highlight the need for employers to look closely at their path to compliance across a significant amount of data,” Platz says.?...?“As almost always happens, many other jurisdictions will follow suit, as New York City already has,” he says. “So, businesses should be preparing to deal not just with these two new laws but, ultimately, with similar ones in most or all states and perhaps other cities.”
No single approach can ward off all dangers—it takes a potent combination of technologies, policies, and practices, all with boardroom support. Remember, employees often represent the weakest link in the data security chain since a simple phishing email can bypass the most sophisticated defenses. Strong protection starts with practical training and enforcement. Management can also help ensure every strategy builds on a solid foundation. Many enterprises are now engaged in major digital transformation and cloud migration initiatives. However, some still need help answering basic questions: Do we know where every piece of data in the house resides? Do we know how much of it contains PII, and who has access to it? How is the data managed in the cloud? What kind of encryption has been applied? Where are the encryption keys stored, and who has access to those? ... This way, there are no shared network resources, and the enhanced security is matched with greater flexibility to ensure a company-specific deployment—a dedicated cloud tenant and custom software to address specific needs.
Allowing data scientists and developers to work together in real time provides multiple benefits. First, it allows for more expeditious and agile development of intelligent apps. Second, it allows developers and data scientists to learn about each other’s needs and processes. When each group is so closely connected and understands each other, it improves the chances of project success. Agile application development requires everyone to work in sync. When Red Hat began exploring ways to bridge the gap that has traditionally existed between developers and data scientists, we expanded on the idea of creating a common platform for real-time collaboration between them. Within this common platform, development and data science teams would have access to all the tools they need to perform their tasks, and could quickly build and share production pipelines. ...?Open Data Hub was so effective at solving our internal data science and development challenges that we ultimately evolved it into a commercial offering called Red Hat OpenShift Data Science.?
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The necessity of cultivating an open mindset and being able to adjust to changing circumstances and obstacles swiftly is highlighted by adaptive thinking. To succeed, leaders need to be able to think quickly on their feet and modify their plans as necessary. Adaptive thinking focuses on maintaining persistence and focus in the face of difficulty. The need to think outside the paradigm and come up with unique solutions to challenging problems is emphasized under creative problem-solving. To create novel solutions, leaders need to be able to spot trends and think creatively. It underlines how important it is to be abreast of recent trends and advancements. Lastly, strategic planning emphasizes the need for a well-thought-out strategy and the capacity to picture the desired outcome. Leaders must be able to foresee possible difficulties and be ready to modify their plans as necessary. This highlights the need to maintain organization and concentrate on long-term objectives.
Effective data governance is also critical for complying with data-focused regulations, especially data privacy laws. Following in the steps of the EU’s General Data Protection Regulation, several U.S. states have introduced privacy laws, with more states poised to do the same. Existing regulations include California’s Privacy Rights Act and Consumer Privacy Act, along with similar regulations in Colorado, Connecticut, Utah, and Virginia. In addition, because many organizations today anticipate incorporating artificial intelligence into decision making, they must make efforts to comply with emerging AI regulations. The standard-bearer is the EU’s AI Act, which aims to prevent potential data misuse and privacy violations. Acts like these depend on organizations adopting strong data governance practices. Clearly, every company today must have a data governance program. Lack of one can cause data inconsistencies, complicate data integration efforts, and create data integrity challenges. These issues can lead to a slew of negative outcomes: reputational damage, fines for noncompliance, reduced efficiency, and, of course, missed opportunities for business growth.
Cabinet Office minister Baroness Neville-Rolfe said fraud against “the public purse is unacceptable and we’re stepping up the fight against those who wish to profit off the backs of taxpayers”. “Through the use of cutting-edge technology, the PSFA will use data and AI to help us in the fight against fraudsters,” she added. The government previously signed another deal with Quantexa, in October 2021, to help combat Covid-19 loan scheme fraud. During the pandemic, fraudsters abused the government’s loan scheme, with a number of businesses making fraudulent claims. The contract with Quantexa was part of the government’s response to those criminal activities. As part of the contract, the government used Quantexa’s Contextual Decision Intelligence (CDI) platform, which enables customers to “create a connected view of [their] data to reveal relationships between people, places and organisations”. It analysed an initial set of 250 networks of people, organisations and places, processing more than 100 million data items.