The flow of information is becoming constrained as regulation tightens. In this article, Armen Ovanessoff, Principal Director at Accenture Research, examines ways that data hungry organisations can attempt to persevere.
Key points include:
Future innovation and growth plans, including the Internet of Things and artificial intelligence, are fundamentally reliant on unrestricted data flows.
There needs to be constructive dialogue between the technology innovators and the lawmakers, so that those who understand the trends are involved in crafting the legislation.
With the impact of data regulation expected to be wide-ranging, executives are beginning to seek ways to mitigate the impact. What executives do in the short term will determine how well they ride out the challenges.
Companies need to map and de-risk data flows. It is crucial that streams of information critical to management decisions and business operations are protected. Make sure to assess how data regulations such as national cross border restrictions and requirements will affect business models.