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Data privacy a hindrance to growth say businesses

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Data privacy a hindrance to growth say businesses

Data Privacy Day today is an international event that occurs every year on this day, designed to raise awareness and promote privacy and data protection best practices.

The day is currently observed in more than 50 countries and here’s observations about Data Privacy Day (ANZ) by IT leaders in the Australia and Asia Pacific (APAC) region.

Keir Garrett, Regional Vice President, Australia and New Zealand, Cloudera

Many businesses view data privacy as a hindrance to growth. But let's be real – balancing the benefits of analytics with respecting individual privacy is crucial, especially in today’s dynamic technology landscape. This goes beyond just complying with the Australian Privacy Principles (APPs) and the Office of the Australian Information Commissioner (OAIC) regulations; it's about giving customers and users genuine control over their data.

Recent cybersecurity incidents show Australians care deeply about data privacy, with breaches severely damaging brand reputation and trust.

The good news? Businesses can manage data responsibly with a secure-by-design data management platform to accelerate enterprise AI. This means integrating privacy measures into IT and business processes from the start, rather than as an afterthought. Whether purchasing, selling, or collecting data, businesses should know what personal information they have, how it was obtained, where it’s stored, how it’s used, who has access, how it’s secured, and when it should be deleted. In essence, it's about safeguarding data throughout its entire lifecycle, protecting both business interests and individual rights.

With Australia's evolving AI policies and privacy regulations, there's a growing emphasis on ethical AI use and data protection. These regulations will shape how businesses deploy AI technologies, ensuring they do so responsibly and transparently.

Agentic AI, which refers to AI systems that can make autonomous decisions, is key. When integrating agentic AI, organisations can build a robust, automated framework for data privacy that enhances data management practices, ensures real-time compliance and implements proactive security measures – all pivotal elements in driving responsible innovation and maintaining public and customer trust.

Gary Savarino, Identity Strategist for APAC, SailPoint

On Data Privacy Day, I want to emphasise the critical need for organisations to fundamentally shift their approach to cybersecurity as technology and AI continue to evolve. With most cyber incidents originating from compromised credentials, it is clear that traditional security measures are no longer sufficient. To more effectively protect themselves and the data they hold, businesses should adopt next-generation identity security solutions and deploy a unified and integrated identity security approach—one that addresses all identities, including non-employees and non-human entities, across every application and environment.

This means moving away from siloed systems and instead centralising identity management to gain complete access visibility, enforce cohesive control policies, and secure data at scale. Automation and machine learning are key to this transformation, enabling organisations to proactively address vulnerabilities and respond to threats with speed and improved precision. By taking these steps, businesses can strengthen their defences and better safeguard sensitive data.

Richard Knott, SVP APAC, InfoSum

This year’s Data Privacy Day theme – ‘You have the power to take charge of your data’ – has timely resonance for Australian businesses and consumers. Growing awareness of data privacy has been the driving force behind meaningful regulatory progress worldwide, with further amendments to Australia’s Privacy Act expected this year to address first and third-party data collection. Yet, in a digital world evolving at breakneck speed, there’s a real risk that consumer understanding won’t keep pace with these changes.

It is therefore incumbent upon organisations to move beyond mere compliance and take a leadership role in empowering consumers with greater control over their data. This means ensuring customers have full visibility into how their information is collected, stored, and used. A key starting point is adopting Privacy-by-Design principles. These principles require technology to embed robust privacy protections and security measures, fostering proactive risk management and treating privacy as a shared benefit rather than a trade-off.

Anthony Spiteri, Regional CTO, APJ, Veeam

Data Privacy Day highlights the urgent need for enhanced data security measures, particularly with sectors such as healthcare, which hold large quantities of personal data, continuing to be highly vulnerable. Last year, the healthcare industry accounted for a concerning 18% of ransomware attacks, followed by consumer services at 14%.

Ransomware remains a significant threat, affecting 40% of small and medium-sized organisations, and as threats continue to evolve with new technologies, merely increasing cybersecurity budgets is insufficient. Organisations must implement proactive measures, such as robust data encryption, strict access controls, and comprehensive employee training on data security. Businesses should also invest in real-time tracking systems that can identify vulnerabilities, outdated systems, exposed sensitive data and suspicious behaviour that may result in data leaks. Let’s use this day as a reminder to strengthen our strategies for safeguarding data, enhancing privacy practices, and fostering a culture of security awareness to protect sensitive information.


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