How to prevail when technology fails - Flipbook - Page 42
42 | How to prevail when technology fails
Seven out of 10 businesses
have not mastered privacy
by design
Fig 16 Most boards only oversee technology
risk and how it is managed to a “minor extent”
To a minor extent: the board oversees management of
some technology risks (for example on cybersecurity)
but not a broad range of technology risks
One of the most critical times at which companies
unknowingly introduce ways of using or storing data
that break data privacy regulations is when new
products that handle personal data are developed or
updated. So privacy lawyers need to work alongside
product teams on new product development from
the start. This concept – “privacy by design” – has
been around for years, but many businesses still do
not practice it.
60%
To a moderate extent: the board oversees
management of a broad range of technology risks, but
considers them less important than traditional risks
(such as financial risk)
31%
Just 28% of surveyed businesses say that privacy
specialists are involved in the development and
implementation of new technology that gathers and/
or processes personal data from the outset. Without
this early engagement from privacy specialists, you
may find they have to abort a product at a late stage
or face litigation once products have been launched.
To a significant extent: the board oversees management
of a broad range of technology risks and deems them
at least equally as important as traditional risks
(such as financial risk)
9%
Q. How actively does the supervisory/non-executive board oversee
technology risk and how it is managed?
Fig 17 Just 38% of businesses are more than “somewhat confident” that their senior executives
understand the risks associated with technology
44%
38%
25%
16%
13%
5
Very confident
4
3
Somewhat confident
3%
2
1
Not at all confident
Q. How confident are you that your senior executives understand the risks associated with the technology your business is developing and deploying?