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Top 9 Data Privacy and Governance Trends to Expect in 2022 - Okera
Thursday, December 16, 2021
Spotlight on AI as new compliance regulations emerge; Heightened data management and privacy concerns hit the supply chain
SAN FRANCISCO, Dec. 9, 2021 /PRNewswire/ -- Okera, the Universal Data Authorization company, today revealed its top industry predictions and trends expected to emerge in data privacy and governance for 2022 according to the company's CEO, Nick Halsey; co-founder and CTO, Nong Li; and Okera Advisory Board member and recent Gartner VP analyst, Sanjeev Mohan.
Halsey's 2022 predictions
1. Privacy regulation will continue to proliferate, requiring a proactive
approach Anxiety about the proliferation of data privacy regulations -
around the world and within U.S. states - will ratchet up in 2022. Driven
by both the fear of fines and damage to brand reputation, companies
progressing on their compliance journey will shift their concern from
simply the how-to, to now focusing on how to arbitrate among different
regulations. A common approach will be to fulfill the technical
requirements for one major regulation, perhaps CCPA or GDPR, then layer
in the required capabilities for other regulations as needed. The
consequences of this wait-and-see approach toward regulatory compliance
will result in companies falling further behind while risks continue to
increase - if they don't act decisively in the coming year.
2. AI regulation will start to look like data privacy regulationAI is
predicted to change just about everything. However, there is a lot of
debate about whether those changes will be for the good. Data bias in
machine learning models is one of the hottest topics in the AI industry
for good reason; an AI model that rejects loan applications or increases
insurance premiums for the wrong reasons will have a very deleterious
effect. And there are other concerns. Many companies, especially in
social media, are essentially in the business of collecting personal
information. What can they do with that information? What are they
allowed to learn about people and what are they allowed to do with that
knowledge? The EU already has a draft AI regulation in place, and in 2022
we can expect to see many other countries move in that direction. Once
again, compliance will demand an ability to know what data you have,
where it is, and who has access to it.
3. Governance goes real-timeWhen we think of governance, we usually think
about putting a policy in place - what role can access what data - and
having the system allow or disallow user access based on that policy.
State-based policies change the game. Some regulations restrict not only
who can access what data, but also where the authorized users are allowed
to be when they attempt to access the data. Other regulations restrict
access depending on the date, time, system status, and other variables.
This combination of various state-based regulations and variables can
imply a more refined data access policy, placing a new layer of
requirements on governance systems. The policy, no longer static, must
react to certain variables in real-time. In 2022, we will see increasing
pressure on enterprises and vendors to put the tools in place that enable
real-time, state-based policy enforcement.
Li's 2022 predictions
1. A data governance ecosystem aligns to drive usage and adoptionData
governance has historically been looked at as a necessary burden,
something imposed on an enterprise that limited agility and slowed
innovation. This is no longer the case. Enterprises are now waking up to
the reality that data governance is a key building block of agility and
innovation. As a result, in 2022, data governance will no longer be a
mere checkbox in vendor solutions. Instead, an ecosystem, including data
governance platform providers, compute vendors, and platform vendors,
will align around delivering data governance capabilities as a way to
drive usage and adoption. We are already beginning to see this emerge,
and it will accelerate in the coming year.
2. Early-stage service providers recognize that data governance at the core
is essential for survivalNew tech companies and startups will need to
build data privacy into their core product strategy. For example, a few
years ago, we saw significant investments in new fintech and health tech
companies. These companies are maturing and preparing to go live during a
time of heightened concern around security and privacy - across the
industry and among customers - so they are going to be very focused on
building these capabilities into their product offerings to eliminate
risk and drive adoption. Failure to build in these capabilities could be
fatal for these companies.
3. The supply chain goes under the data governance microscopeIn light of so
many high-profile breaches, data privacy and security are now a popular
topic outside the tech industry. Ransomware attacks and oil pipeline
shutdowns are front-page news, and people increasingly understand the
consequences of poor data practices for both the country and themselves.
This will lead to some significant activity in 2022 around how
manufacturing supply chains manage and share data. We will also see
government agencies and pseudo-governmental bodies, such as utility
companies, move at a faster pace to address data management and data
privacy concerns. By the end of next year, we expect most supply chain
participants and agencies to at least have plans in place for how they
intend to address these concerns.
Mohan's 2022 predictions
1. Data governance scope will expand to all dataDuring the peak of the
pandemic, organizations shifted budgets to bolster initiatives that
allowed them to explore data in new ways. However, this was often
haphazard and reactive. Post COVID-19, data and analytics budgets are
seeing their biggest increase in many years, according to Gartner.
Organizations are investing in expanded data and analytics environments
to make timely and accurate decisions in a more strategic manner. New
business use cases rely on multi-structured data from streaming IoT, 5G,
logs and clickstream data sources. This data should be secured through a
uniform and standardized approach to allow reusability and automation.
2. Data consumption platforms will require a common authorization
frameworkNew approaches to consuming data include data exchanges,
marketplaces, and other data-sharing options. In addition, organizations
are starting to invest in data mesh and data fabric, approaches that
promise to remove data engineering bottlenecks and foster agility.
However, decentralized architectures add complexities to governing and
securing data that is spread across multiple locations. A unified data
access governance platform will be required to apply policies
consistently and enable regulatory compliance.
3. Data access governance platforms become pervasiveConsumers are demanding
access to the latest data in near real time to enable use cases such as
anomaly detection or machine learning. This has led to an explosion of
"modern data stacks," ranging from cloud data warehouses to lake houses.
Departments are demanding autonomy to deploy the most cost-effective
stack that meets their functional and non-functional requirements. This
will splinter the technology infrastructure landscape. Governing access
to data in a distributed, domain-centric environment will no longer be a
DIY project. It will require a comprehensive federated governance
platform.
About Okera
Okera, the Universal Data Authorization company, helps modern, data-driven enterprises accelerate innovation, minimize data security risks, and demonstrate regulatory compliance. The Okera Dynamic Access Platform automatically enforces universal fine-grained access control policies. This allows employees, customers, and partners to use data responsibly, while protecting them from inappropriately accessing data that is confidential, personally identifiable, or regulated. Okera's robust audit capabilities and data usage intelligence deliver the real-time and historical information that data security, compliance, and data delivery teams need to respond quickly to incidents, optimize processes, and analyze the performance of enterprise data initiatives.
Okera began development in 2016 and now dynamically authorizes access to hundreds of petabytes of sensitive data for the world's most demanding F100 companies and regulatory agencies. The company is headquartered in San Francisco and is backed by Bessemer Venture Partners, ClearSky Security, and Felicis Ventures. For more information, visit www.okera.com or contact info@okera.com, or connect with the team on Facebook, LinkedIn, or Twitter.
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SOURCE Okera
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