14 February 2018, Richard Leeming
It’s human nature to regard the imposition of new regulations as a headache, as an expense, as a diversion to getting things done. It’s counter-intuitive to think of new regulations as a catalyst to innovation.
But that’s how we see the General Data Protection Regulations that come into force in May this year.
Golant Media Ventures and the Digital Catapult are holding a workshop on the Innovation Opportunity of the GDPR for Media & Publishing in March and here’s three reasons why you should attend:
- Trust is a major factor in the relationship between media and publishing businesses and their audiences. Public trust in media sources has fallen enormously in recent years with controversies over ‘fake news’, the feeling that globalisation and technology means that people are not treated fairly and the cosequent polarisation of politics. This presents major difficulties for media and publishing businesses who depend on gaining, holding and developing the trust of their audiences. So it’s obvious that one of the most significant ways that a media and publishing business can manage trust is by how they use their audience’s personal data. Our workshop will highlight how the GDPR can be used to reset your relationship with your audiences.
- Developing your way you hold personal data will enable you to deliver new value to your audiences. GDPR is designed to allow people to have greater control over their personal data. It strengthens their rights on consent and to view data stored about them. Business that have mapped their data assets will have a much clearer view of what they hold, how these are linked and the teams that use the data. This will enable them to create new products and services that can deepen your relationships or produce new revenue streams.
- Stimulate new products & services. GDPR is already inspiring startups creating Personal Data Services technologies around factors such as age and location, which will give consumers power to own their data and choose who they share this with and for what return. How will you integrate these sorts of services into your business?
The last time data protection regulations were updated in Europe was in 1998, before Google, before Facebook or Twitter, before the mobile internet, before Big Data. So it’s no surprise that the legislation and the practice around data protection legislation is out of date.