Customer Data Privacy

This note provides an overview of the evolving landscape of customer data privacy in 2023. It highlights two pivotal aspects that make privacy a central concern for businesses: building and maintaining customer trust and navigating the intricate regulatory environments. The note examines common privacy risks and their potential impacts on businesses, including reputational damage and compliance issues. It also offers insights into the differences between European and American regulatory practices. Furthermore, the note explores prevalent business practices related to data privacy and the challenges faced by industry professionals. It concludes by analyzing the perspectives of both consumers and regulators on privacy, identifying key challenges, and posing thought-provoking questions for further exploration in this digital age.