People demand better data protection from businesses
Most people are apprehensive about how their data is used, with trust in businesses at a worryingly low rate, according to a new survey
While the public are increasingly required to share personal information to access goods and services, a recent survey by law firm Herbert Smith Freehills (HSF) highlighted that trust in how businesses protect this data remains alarmingly low.
The research stated that financial information is the top concern, as 84 per cent of respondents hesitant to share such details.
Only 22 per cent expressed confidence in financial services companies’ ability to safeguard their information.
While just 20 per cent felt comfortable sharing sensitive documents, such as passports or driving licences, with public sector bodies.
These concerns also extend to medical records, with 44 per cent of respondents fearing their disclosure, and 17 per cent uneasy about sharing their online shopping habits.
However, despite the widespread anxiety, data breaches appear less common than feared, as 73 per cent of respondents claimed they had never experienced a breach resulting in a loss of personal information.
When it comes to protecting their data, many consumers rely on strong passwords, with 60 per cent also using two-factor authentication and 49 per cent avoiding public Wi-Fi networks.
Additionally, the findings also highlighted people’s concern about the way in which their personal data might be used to harness the power of artificial intelligence (AI).
Over one-third (32 per cent) are uncomfortable with their data being used to train AI systems.
Miriam Everett, partner at HSF noted that “in the wake of the UK government’s plans to ‘unleash’ and ‘turbocharge’ AI, the onus must therefore firmly be on policymakers to ensure that adoption of the 50-point plan plugs any gaps in the current patchwork of rules and gives consumers the confidence to hand over their data.”
HSF and Everett went on to proposed three steps to address these concerns, which includes better alignment of data protection regulations across borders, stricter data minimisation practices, and encouraging consumers to adopt better data security habits.
She explained that “in the same way people are unlikely to leave their home without locking the front door, consumers have to bear some responsibility for the protection of their data through.”
“This goes hand in hand with understanding how data might be used and the potential risks associated with such data use,” she added.