Blogger’s Park: Building brand trust with data

Data today is the “new currency” for businesses and robust security measures are the need of the hour. Growing reliance on technology has significantly amplified the potential for data misuse and breaches. According to a study conducted by IBM and the Ponemon Research Institute, data breaches imposed a staggering cost of Rs 176 million on Indian firms in FY22, with 29,500 breaches occurring during this period.

All firms must enact strict data privacy rules to address concerns. In this regard, India has acknowledged the value of data privacy and the necessity for a thorough legislative framework by implementing the Digital Personal Data Protection (PDP) Bill of 2023.