The sold-out event featured a lively discussion on hot privacy topics including how to adhere to privacy requirements without inhibiting economic growth in the ad-tech ecosystem, the intersection of privacy and security, and how to provide consumers with meaningful and user friendly tools to manage their privacy preferences to safeguard their personal information. Check out this video from the event:
Last week, in support of Data Privacy Day (#DPD14), TRUSTe sponsored the Churchill Club Data Privacy Trends event on the emerging trends in data privacy and impact on business.
The panel session was moderated by Fatemeh Khatibloo, Senior Analyst, Forrester Research and included the following speakers:
- Chris Babel, CEO, TRUSTe
- Michelle Dennedy, VP & Chief Privacy Officer, McAfee
- Barbara Lawler, Chief Privacy Officer, Intuit
- Jeb Miller, General Partner, Jafco Ventures
- Jeffrey Rabkin, Special Assistant Attorney General, Office of the Attorney General, California Department of Justice
The panel kicked off with the moderator Forrester’s Khatibloo asking speakers to define “privacy”:
Rabkin noted, “It’s clear that different people have different answers – it’s personal” and “Privacy has something to do with what Brandies referenced (http://groups.csail.mit.edu/mac/classes/6.805/articles/privacy/Privacy_brand_warr2.html) as the right to be ‘being undisturbed, being unobserved’ where privacy is tied to the inner life which allows (everyone) the ability to be an individual to be deeply rooted in American culture.”
Miller defined privacy as “an individual’s right to manage individual information in an increasingly digital world.”
Lawler said, “Privacy is personal and it means different things to different people. The right to know and understand the decisions about you (allows) you to have autonomy in your own life.”
Dennedy took an interesting perspective linking privacy to security and commented, “Privacy, whether at the enterprise manner, or the individual, is about authorized sharing.”
Babel rounded off the panel by turning the question back to moderator and said, “It’s a very personal thing to define.”
The conversation continued touching upon how to focus not on the problem, but on what the opportunity is from a consumer and business perspective. The way businesses use data about individual consumers must be in a way that fits with their expectations and understanding of what privacy is contextually. Companies need to remain ethical and remain accountable with measures for security and compliance in place. Privacy is more than a risk mitigation tool, a risk cost center, and we need to move away from that mindset.
“There’s nothing wrong with assigning a value to it. The minute you assign a value to it, you become entrepreneurial,” said Dennedy. “At its core, at the enterprise level, it is a creation engine. Apart from imparting principles in design engineering, we need to ask ourselves – is it legal, then questions arise about morality and ethics. If you hit legal value, business ethics, moral and ethical value, then you have something and people will want to invest. Value creation, if you are only doing it for legal compliance, is wasting your time. You make more money when you treat humans ethically.”
The panel continued on to discuss how marketing and business organization, beyond engineers, start to understand privacy – what are the opportunities?
Babel said, “At the end of the day what it comes down to is building trust with the consumer. At its core, it’s maximizing value of data in a privacy safe way.”
Companies need to have a clear understanding of the data they collect online, and why, and have a clear data privacy management practice in place.