The powerful quote: ‘Privacy is not for sale, and human rights should not be compromised out of fear or greed’.
As more and more of our lives are spent online and as cutting-edge technology like artificial intelligence gain prominence, privacy concerns will only grow in significance. In order to anticipate changes in our own market over the next five years, business executives throughout APAC will continue to monitor the developments surrounding digital and privacy issues in the European Union and throughout the rest of Asia-Pacific (APAC).
Global data protection has undergone tremendous transformation since the General Data Protection Regulation of the European Union was passed, directly impacting the global privacy law. Governments and authorities have looked to Europe as a model for digital policy and have learned from its experiences. Since the GDPR was applied across Europe on May 25, 2018, Netherlands has reported the highest number of personal data breaches by January 2023, totalling around 117,434. Germany came in second place, receiving over 76,000 reports of personal data breaches. The main purpose of GDPR is to safeguard data owned by citizens and residents of the EU. Hence, the regulation applies to entities that process such information regardless of their location, whether they are based in the EU or not, which is referred to as the "extra-territorial effect." The GDPR also applies to the sharing of personal information with nations outside the EU and international entities. It is the responsibility of the European Commission to evaluate the extent of protection provided by a territory or processing sector in a non-EU country.
APAC data protection laws too have seen several direct and indirect developments. The values of lawfulness, justice, and transparency of GDPR have served as a source of inspiration for most lawmakers. Similar or greater fines than the GDPR have been imposed by others while many important APAC jurisdictions are currently undergoing additional developments regarding data protection. In 2021, China enacted PIPL, and Japan revised laws to align with GDPR, so Asia is strongly committed to data privacy. Just like how Brazil's LGPD and California's CCPA, the GDPR influenced certain data protection laws in Asia. (APAC data protection laws will be addressed by VENOVOX in the continuous postings).
“We can freely celebrate the surge of innovation, the rise of AI, the unprecedent speed of technological advancement and the generational breakthroughs in medicine, science and industry, but if we neglect to address the complex questions of IP, Data Privacy & Protection, we would have conquered the sea, yet leave a giant monster lurking at the bottom.”
― Peter-Cole C. Onele