Tue. Jun 25th, 2024

Data Privacy Day - Industry Commentary from Commvault and AltimetrikBalaji Rao, Area Vice President, India & SAARC, Commvault 

“As we observe Data Privacy Day, it is imperative to reflect on the ever-growing importance of safeguarding sensitive information in our digital landscape. Currently, India ranks among the top three most targeted APAC countries for cybercrimes, with the prominent factor being the surge in Generative AI. A study conducted by PWC reveals that nearly half of the respondents fear the consequences of a cyber-attack, foreseeing potential losses in customer data and revenue. The increase in AI-powered cyber-attacks in India raises substantial concerns, highlighting the urgency for organizations to redirect their focus toward data governance and privacy.

In today’s era dominated by generative AI, integrating AI with data protection is imperative for solidifying cyber resiliency, and enabling faster and more precise threat detection. The objective of Data Privacy Day is twofold:  a reminder for organizations to embrace a more structured strategy regarding AI to counter new threats and for users to understand the power to protect personal data.

There’s no doubt privacy is not just a priority but a necessity. Effective data security serves as the bedrock of data privacy and leaders must recognize that security needs to be seamlessly integrated into every facet of their operations. As we navigate the digital landscape, let us collectively uphold a resilient architecture that extends visibility, ensuring that data privacy remains a steadfast commitment, safeguarding the trust of customers and the integrity of organizations.”

Jayaprakash Nair, Senior Engineering Leader – Data Science, Altimetrik 

“Data is the lifeblood of innovation and the key driver of transformative business strategies.  Commitment to harnessing the power of data goes hand in hand with ensuring data privacy. In the age of digital acceleration, where data fuels every decision, protecting the integrity and privacy of the customer information entrusted with enterprises is pivotal.

The surge in sophisticated data breaches and AI-powered cyber-attacks highlights the urgent need for comprehensive data security and privacy measures. As per a popular study, global consumers distrusting tech companies managing their personal data has risen to 48% in 2023. Organizations are bound by legal obligations and are responsible for fortifying defenses and implementing proactive strategies to protect sensitive data. Prioritizing stakeholder privacy is a central focus, realized through a comprehensive, proactive, and risk-based data privacy strategy.

The objective of Data Privacy Day encompasses two key aspects. It aims for every user to recognize their right and capability to safeguard and oversee their personal data. Additionally, it emphasizes the importance of organizations understanding the reasons for safeguarding and securing their customers’ data, including Personally Identifiable Information (PII). Achieving harmony between innovation and data protection demands collaborative efforts from industry stakeholders, policymakers, and an informed public.

Gartner foresees that by the end of 2024, 75% of the global population will fall under the umbrella of modern privacy regulations. Fundamental innovations such as edge computing, cloud security, the zero-trust security model, and AI governance empower individuals, acknowledging the critical balance between technological progress and individual privacy rights.

At Altimetrik, we recognize that responsible and ethical data practices not only safeguard individual privacy but also build the foundation for sustainable business success. We have pioneered initiatives to secure the digital realm through a holistic, user-friendly network architecture. As we navigate the evolving landscape of technology, AI plays a key role in unlocking new insights from data, driving efficiency, and fostering innovation. We approach AI with a vigilant eye on ethical considerations and data privacy. The company’s commitment to data security aligns seamlessly with the proposed Data Protection Bill of 2023, marking a significant stride toward a resilient digital infrastructure.”

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