The fireworks have faded, marking the arrival of 2024. With it came a myriad of opportunities and, at the same time, questions, particularly regarding data privacy policies and the utilisation of AI.
Last year was an enticing preview of how life-changing these advanced technologies are, and this year, we may just get the full-length cinematic experience. But just as a blockbuster film must adhere to industry standards to resonate with its audience and draw more viewers, ensuring compliance with data privacy laws and AI guidelines is also a necessity.
What regulations are surfacing quicker than ChatGPT tweets? We'll keep tabs on them all, from EU AI guidelines to local privacy skirmishes. Curious about facial recognition, deep fakes, or ads that seem to know your thoughts? We've got your back—and hopefully, your data too.
Data privacy isn't a complicated term to begin with. It involves protecting personal information from unauthorised access, use, disclosure, or destruction. It's also about having control over your own data and deciding how it's used by others, specifically by online businesses and other entities.
Think of it like this–your personal information is like your home. You wouldn't just let anyone walk in and wander around, right? Data privacy allows you to decide who can enter, what they can see, and for what purpose.
Meanwhile, artificial intelligence, the buzzword of yesteryear, continues to change our lives one prompt at a time. However, the profound implications it carries highlight the essential need for regulation.
Most AI regulations that you'll read here commonly involve human oversight and control, security and safety, and accuracy and transparency. AI has become a valuable tool for almost every industry, and to ensure it works properly and accurately is the job for these standards in place.
As the US braces for its general elections this year, data privacy policies matter more than ever. These eight US states have already passed data privacy laws, and they're expected to be in effect this year.
Many more states are following in the footsteps of safer data privacy regulations, but the progress remains stalled. But with AI's continued upsurge in usage, legislators might find this a stronger case for them to push for wider federal laws on data privacy.
Up north of the border, Canada is also making a major privacy overhaul in 2024. Bill C-27 will replace the outdated PIPEDA with a modern framework called the Consumer Privacy Protection Act (CPPA). This game-changer gives Canadians more control over their personal data used by businesses.
Bill C-27 doesn't stop there. It creates a special tribunal to handle privacy complaints and crack down on CPPA violations, ensuring businesses play by the new rules.
As AI takes centre stage, Bill C-27 also brings in the Artificial Intelligence and Data Act (AIDA) to manage its development and use. AIDA uses a 'risk-based' approach, meaning stricter rules for powerful AI with greater potential impact.
These Canadian data privacy laws make one thing clear - AI shouldn't come at the expense of your privacy.
Locally, Australian lawmakers have also lobbied for stricter measures to protect online users' data from being abused. Its Privacy Act has been in existence since 1988, and it also varies per state and territory. But since 2022, amendments have been made to this long-existing data privacy act.
In February 2023, the Privacy Act Review Committee came up with a report about the potential recommendations for amending the Privacy Act. These include stricter monitoring of data usage for businesses, policies on data usage breaches, and the inclusion of AI in these policies, among others.
On the other side of the Atlantic, the European Union's General Data Protection Regulation (GDPR) has been one of the strictest data policy measures in place. But the EU aims to add more to this with their introduction of the Digital Markets Act and AI Act, both expected to be passed by early 2024.
The EU's ePrivacy Regulation (ePR) Committee is leading the way toward safer data usage and privacy for its member countries. At the moment, it is exploring ways to define clearer standards on cookie usage and regulate communications services like WhatsApp and Facebook Messenger.
The European Union is once again at the forefront of regulating AI tools and systems, as it aims to pass the Artificial Intelligence Act. In general, it will regulate businesses and companies developing or using 'high-risk' AI tools and systems. High-risk AI tools can affect employment, health care, and information dissemination, among others.
While it's already up for votation in the European Parliament, the recent AI developments and its underlying complexities continue to delay the push for the law's advancement and passage.
What makes this law a game changer is its extraterritoriality, which means any AI company operating outside the EU with users or customers in their union shall be subject to this regulation.
The US is also scrambling to follow and regulate AI. At least 10 states have already enacted regulations regarding AI usage, all in an attempt to conform to consumer privacy laws. Just recently, US President Joe Biden released an executive order recognising the need for responsible AI development and guarding potential risks.
A whirlwind of privacy policies and AI regulations is upon us in 2024. But this should not come to you as a roadblock; it's an opportunity to build trust with your audience.
Remember, understanding these changes unlocks a goldmine of insights into your customers' values and expectations. And that's where we come in.
Our data and AI solutions from Elephant in the Boardroom aren't just compliant; they are built on trust, helping you navigate the landscape and turn regulations into strategic advantages.
Ready to ride the wave of change? Connect with us.