With low penalties, industry perceives that GDPR lacks teeth, but the byproduct of the law is discouraging behavior that the public disapproves of.
Like GDPR, the CCPA could “enable companies to have a better understanding of their data so that they could better innovate down the road,” said Federman. Using data to compete requires:
Rich data free of extraneous, liable data
Algorithms to analyze the data
Scalable computing power to run the algorithms
Cloud providers take care of scale while companies maintain what data is crucial and what data is an unnecessary risk. Finding the safe ground between competitive use of data and ethical use of data will be a challenge for Silicon Valley’s greatest data collectors.