Building Innovative Tech While Complying With Privacy Regulations

In recent years, protecting consumer data has not only been a major concern for consumers themselves, but also for government bodies around the globe. 20 members of Forbes Technology Council share strategies to help tech companies balance pursuing innovation and ensuring compliance to continue to grow and serve their customers.

Conduct A Cost-Benefit Analysis

Identify areas where you can invest a small amount—say, 10 cents—in innovative technologies that help meet privacy regulations while still generating significant revenue (say, $1.10 per customer). Such trade-offs can help reduce your liability and expedite your project’s time to market. Additionally, it’s crucial to anticipate your regulatory responsibilities to meet audit standards and regulatory expectations. - James Beecham, ALTR