Data protection and data privacy have continued to appear on the front page of local and national news throughout the year and as we close the final chapters of 2022. Remote work and scattered teamwork continue for many, pulling IT, governance, data and security teams in disparate directions, often not allowing the capacity to face data privacy and protection issues. We saw that reflected throughout the year in the many trending topics and news headlines.
Without further ado, we present our 2022 Data Wrapped:
The 'Next Big Thing' in Cyber Security
US Federal Data Privacy Law Looks More Likely
While the United States doesn't have a federal data privacy law yet, in May of this year, legislators introduced the Data Privacy and Protection Act “which is a major step forward by Congress in its two-decade effort to develop a national data security and digital privacy framework that would establish new protections for all Americans.” In addition, 5 US States have data privacy legislation going into effect in 2023.
75% of the World Will Be Covered by Data Privacy Regulations
Whether your company exists in a state with data legislation or not, now is the time to think about protecting your sensitive cloud-based data. Gartner predicts that “by year-end 2024, 75% of the world’s population will have its personal data covered under modern privacy regulations.” Europe led the charge in formalizing modern privacy laws with the GDPR, a bill that passed in 2018 regulating the handling of sensitive data. And while the United States is still catching up on state-by-state laws, Gartner believes that due to the COVID-19 pandemic and rising cases of data breaches, security and risk management (SRM) will only gain in prevalence as we move into the new year.
Data Breaches Continue to Make Headlines in 2022
Unfortunately, data theft continued to be a prevalent issue in 2022, with Apple, Meta, Twitter, and Uber being among the list of companies who suffered significant data breaches. We're seeing data breaches this year, even more than years past, impact companies across all sectors and sizes.
In September of 2022, Uber's computer network suffered a "total compromise" due to a hacker wrongfully gaining access to their data. Email, cloud storage and code repository data were all breached. The hacker, an 18-year-old, told The New York Times that Uber was an easy target for him "because the company had weak security." Read more here.
ALTR Maintained Market Momentum Throughout 2022
In March 2022, Q2 Holdings, Inc a leading provider of digital transformation solutions for banking and lending, and ALTR announced the long-term extension and expansion of their strategic technology partnership through 2026 to deliver unrivaled data governance and security to Q2 financial institution customers. Learn more here.
In June, ALTR announced the expansion of its partnership with Snowflake with the release of its new policy automation engine for managing data access controls in Snowflake and beyond. This solution allowed data engineers and architects to set up data access policies in minutes, manage ongoing updates to data permissions, and handle data access requests through ALTR’s own no-code platform for data policy management.
And in October, ALTR Co-founder and Chief Technology Officer, James Beecham, became ALTR’s newest Chief Executive Officer. Beecham leverages his technical acumen and passion for the industry and the business to lead the company's next phase of accelerated expansion. ALTR also appointed Co-founder and Vice President Engineering, Chris Struttmann, to the Chief Technology Officer position. Previous CEO David Sikora remains actively involved with ALTR as a Board Director, CEO Advisor and financial investor.
Looking Forward to 2023
We anticipate 2023 will continue to prove the urgency of focusing on the protection of your sensitive data, making now the time to create your action plan to protect your data. ALTR's low up-front-cost, no-code data governance solution is a great place to begin. Are you ready to take the next step in controlling access to your sensitive data? We can't wait to show you how ALTR can help.