GDPR is an opportunity to rebuild trust

Customer-first start-ups show how to thrive under the EU's stringent data protection rules.

by Ben Brabyn

GDPR comes into force on 25 May – cue feelings of frustration, anxiety, and uncertainty among the UK’s business leaders. It’s not only the cost – EY estimates that members of the Fortune 500 will spend a combined $7.8bn on Brussels’ General Data Protection Regulation – but the complexity of the regulation that is leading to boardroom concerns.

More than six million EU citizens worked in data-related jobs in 2016, while the impact of failure to comply will cost firms up to 4% of annual turnover or €20m.

Concerns about these potential penalties have driven larger players to focus on protecting themselves rather than addressing the issue head-on. Facebook, for one, has chosen to expand its data protection staff in Ireland by 250% and re-design a host of products at a cost of millions of pounds. 

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