While data privacy concerns aren’t at the forefront of all consumers’ minds, it’s safe to say that many people are worried about how brands, governments, and organizations use, access, and safeguard their data.
In fact, a recent report from GWI found that 32% of Gen Z, 31% of Millennials, 34% of Gen X, and 40% of Baby boomers worry about how companies use their data online.
Couple this with the ever-evolving data protection laws being implemented worldwide and the overall shift in tech towards data protection, and it is evident why so many entrepreneurs are turning towards AI. After all, it’s a solution that allows them to give their potential customers peace of mind while still giving them the opportunity to provide relevant, personalized, and fully conversion-optimized online experiences.
So, if you’re interested in learning more about the role of artificial intelligence in data privacy, here are a few tips on how you could make AI a part of your operations—to grow your business while delivering an exceptional CX to your audience.
Protecting Your Business
One of the best (and easiest) ways to employ AI when tackling the issue of data privacy is with legal agreements and policy generators like TermsFeed.
The most widespread misconception about data privacy is that people don’t want to provide businesses with their personal information. Truth be told, this isn’t really the case.
Research shows that 76% of individuals would be willing to give away some of their info if it meant a better customer experience. Furthermore, 88% consider personalization to lead to higher quality products and services, and 76% of people become frustrated when brands deliver irrelevant (non-personalized) experiences.
So, the conclusion is that brands don’t have to choose between data collection and upholding customer privacy. Instead, they need to be transparent about what type of data they collect and for what reason.
And this is where agreements and policy generators come in handy. These AI tools are an excellent investment for most small and mid-sized businesses, as they are:
- efficient at achieving transparency
- useful for getting tedious jobs done
- more affordable than getting expert legal advice
But, another reason AI apps like TermsFeed are such a great sort of tech to use when tackling data privacy in 2022 is that they constantly monitor the legal landscape.
This won’t just give you a heads up about needing to change the policies on your site, app, or ecommerce store. Much more importantly, it will provide you with peace of mind, ensuring that your company is protected from any liability—in the present and future.
Handling Customer Privacy Requests
According to Gartner, one of the most efficient ways AI can help business owners handle data privacy is in handling customer privacy requests.
Based on a survey that included 689 respondents, the organization found that as many as two-thirds of respondents indicated that it takes them two or more weeks to respond to a single subject rights request (SRR). Moreover, Gartner discovered that the cost of manually handling SRRs boils down to an average of $1,400 per month, which is a significant dent in any company’s budget.
The great thing is that AI tools can help address these issues quickly (which automatically leaves a positive impact on user experience) and cost-effectively, which is a significant bonus for any small business.
Identifying, Extracting, Classifying, and Managing Sensitive Information
Another excellent reason for employing artificial intelligence when targeting a better data user experience is AI’s ability to complete complex data management tasks without sacrificing user privacy.
Simply put, AI solutions are fast and accurate. They often outperform humans, and the results they’re capable of driving show that, in some cases, they should completely replace human operators for the sake of time and cost efficiency.
For example, one experiment from Lawgeex compared law experts with AI and found that artificial intelligence outperformed people in terms of accuracy (94% vs. 85%) and speed (26 seconds vs. 92 minutes).
Furthermore, brands like Affinda are developing advanced AI solutions, like resume parsing tools, which are helping HR teams improve the hiring process by protecting against discriminatory biases, promoting fairer candidate selection, and fostering increased diversity.
And, of course, it’s important to note that AI outperforms humans once again when it comes to managing sensitive user data.
This is true because artificial intelligence isn’t “aware” of the value of certain data formats (like credit card information, social security numbers, user passwords, or celebrity photos), yet, it is super-effective at locating and identifying any type of info requested.
So, employing AI to manage, route, and analyze databases containing sensitive user information makes for a much more privacy-oriented approach than having humans handle that same data and exposing your business to unnecessary risk.
Trend Analysis and Prediction
Last but not least, as we move towards a cookie-less world, it’s essential to remember that AI algorithms allow businesses to improve their sales and marketing activities without making impositions on user privacy. But that’s not all.
Businesses can even employ AI analysis and machine learning to boost user privacy, using the findings to develop robust security threat-detection systems and prevent user exposure to malware or ransomware. Just think about how effective Google’s Gmail has become at instantly flagging phishing emails or how scrutinous social networks are about censoring potentially sensitive posts.
Whether you’re already using AI in your operations or just thinking about how it may impact data privacy, you can rest assured that the future is tech-driven.
Yes, we are moving towards a cookie-less world. And, yes, people are increasingly aware of how brands, governments, and organizations use (and misuse) their personal info. So, it’s only logical that you should be looking for ways to arrive at a balance between personalization and privacy.
AI could be the solution you’re after—and not just because it’s accurate and efficient. Part of its appeal is also that it allows you and your team to prioritize safety without having to give up valuable information that could drive the success and growth of your business.