TrustArc Webinar - 2024 Global Privacy Survey: A 360 View Into Key Privacy Developments

How does your privacy program stack up against your peers? What challenges are privacy teams tackling and prioritizing in 2024?

In the fifth annual Global Privacy Benchmarks Survey, we asked over 1,800 global privacy professionals and business executives to share their perspectives on the current state of privacy inside and outside of their organizations. This year’s report focused on emerging areas of importance for privacy and compliance professionals, including considerations and implications of Artificial Intelligence (AI) technologies, building brand trust, and different approaches for achieving higher privacy competence scores.

See how organizational priorities and strategic approaches to data security and privacy are evolving around the globe.

This webinar will review:
- The top 10 privacy insights from the fifth annual Global Privacy Benchmarks Survey
- The top challenges for privacy leaders, practitioners, and organizations in 2024
- Key themes to consider in developing and maintaining your privacy program

1. © 2024 TrustArc Inc. Proprietary and Confidential Information.
2024
Global Privacy Benchmark Survey:
A 360° View Into Key Privacy Developments

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Legal Disclaimer
The information provided during this webinar does
not, and is not intended to, constitute legal advice.
Instead, all information, content, and materials presented during
this webinar are for general informational purposes only.

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Speakers
Paul Iagnocco
Customer Enablement Lead &
Principal, Data Privacy
TrustArc
Gary Edwards, PhD
Co-Founder and Principal
Golfdale Consulting

4. Agenda
•Survey Methodology
•Overarching Themes
•10 Key Privacy Insights Impacting Organizations
•Practical Solutions
•Questions & Answers
•Next Webinar

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Survey Methodology: 360° View from Around the Globe
1803 participants surveyed globally

Primary regions surveyed include:
U.S., Europe, UK, with additional insights
gathered from South America and Asia.

Our methodology continues to ensure a balanced,
360° perspective by statistically weighting results
across both organizational roles and by company
revenue. This approach allows us to compare findings
year-over-year, knowing that year-over-year changes
are not the result of a different sample composition.

6. Overarching
Themes
Risk-Based Approach
Digital transformation and compliance, with emphasis
on risk and privacy remains crucial.
Elevation of Privacy
Privacy initiatives and increased investments in data
security and data protection now core components of
operational and growth strategies.
Higher Due Diligence and Accountability
•AI presents significant new challenges,
•Enforcing a growing list of privacy laws has intensified
•Demands higher due diligence and accountability
from organizations.

7. Key Privacy Insights
Impacting Organizations

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Key Privacy Insights Impacting Organizations #1
Top 3 privacy risks for in 2024 are AI, brand reputation & compliance.
Half of respondents globally rated AI as a “4” or “5” – extremely challenging” for their org.
Consider applying select Privacy by Design principles:
AI - privacy embedded into design
Reputation - respect for user privacy - keep it user-centric
Compliance - privacy as the default setting

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Key Privacy Insights Impacting Organizations #2
Almost half of companies are making AI a priority in 2024.
Globally, 87% of those surveyed indicate it is important or very important.
Unsure of where to start with AI?
Our TRUSTe brand has developed a Responsible AI
Certification framework that empowers organizations to
lead in accountable AI use and transparent data practices.

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Key Privacy Insights Impacting Organizations #3
Maintaining brand trust remains the top privacy goal.
Regulatory compliance is closely followed as the second priority goal.

11. Seven Keys
to Privacy
1.Having the Board of Directors regularly review and
discuss privacy matters.
2.Pursuing privacy as a core part of business strategy.
3.Making sure privacy permeates day-to-day business
decisions with great importance.
4.Embracing privacy practices as a key differentiator.
5.Being mindful of privacy as a business.
6.Ensuring every employee can formally raise a privacy
issue with confidence that there will be no reprisal.
7.Sufficiently training employees in privacy matters.

12. Five
Outcomes
that Matter
1.Confidence your company is able to keep all employees
and customers relevant data secure and protected.
2.Confidence your customers/clients/consumers have
in your management of data privacy.
3.Confidence your employees have in your management
of data privacy.
4.Confidence your partners/third parties have in your
management of data privacy.
5.Confidence the general public has in your management
of data privacy.

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Key Privacy Insights Impacting Organizations #4
Across the globe, there was an improvement in how companies tackle
privacy by 8% year over year.

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Key Privacy Insights Impacting Organizations #5
Taking a principles-based approach to privacy results in high privacy
competence, with an average score of 74% on the Global Privacy Index.
Did you know that our Nymity Privacy Management
Framework™ now includes AI specific activities?

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Key Privacy Insights Impacting Organizations #6
Adopting the “Nymity Privacy Management Accountability Framework”
(PMAF) is associated with the highest Privacy Index scores.
Views From Privacy Team Members

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Key Privacy Insights Impacting Organizations #7
Privacy Management solutions score highest on the Global Privacy Index.
They score 6% higher than GRC solutions, 11% higher than internally developed systems,
and 15% higher than free/open-source solutions.
Did you know that
TrustArc’s PrivacyCentral
(the first multi-jurisdictional
compliance solution)
can provide on-demand
Benchmarking, Attestation &
Reporting?

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Key Privacy Insights Impacting Organizations #8
Measuring what you manage pays off.
Companies who measure privacy versus those who do not score 31% higher against
the TrustArc Global Privacy Index.
TrustArc Global Privacy
Index 7 Keys:

1.Mindfulness
2.Strategic Integration
3.Employee Empowerment
4.Regular Board Review
5.Privacy Training
6.Business Differentiation
7.Operational Integration

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Key Privacy Insights Impacting Organizations #9
The top 3 areas of importance are third-party risk management,
data discovery and scanning, and AI.
Did you know that when it comes to data discovery,
to achieve full compliance, data privacy ONLY requires
the answers to 9 questions and a summary (ROPA)?

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Key Privacy Insights Impacting Organizations #10
In 2024, the demand for privacy resources is rising, with two-thirds
of people seeing the demand for privacy roles increase.
Tired and frustrated about the time it takes just to publish a new
privacy notice? Or sharing the same SOC2 report over and over
with your sales team?

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TrustArc Solutions Referenced
See https://trustarc.com/solutions/ to explore all TrustArc solutions!

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TrustArc Solutions Referenced (continued)
See https://trustarc.com/solutions/ to explore all TrustArc solutions!

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Thank You!