Video/Europes New Data Privacy Laws, an Opportunity for Companies
On May 25th Europe’s new General Data Protection Regulation (GDPR) laws come into effect - a massive revamp of the EU’s data privacy requirements. The GDPR addresses the problem of exploitation of data and makes businesses accountable with the threat of fines if they don’t comply. Companies may have to invest in technology, or review their internal processes, to comply but they should not see this as a burden but rather as an opportunity, explains in this video Gabriel Pereira Pundrich of the Department of Accounting. It can in fact give them a competitive edge, showing to customers that they comply in terms of privacy and security of their data, says Pundrich. The recent Facebook scandal highlighted in fact how much people today value privacy.