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Daily Dashboard | Consumer survey shows privacy becomes 'business imperative' Related reading: The AI Act's debiasing exception to the GDPR

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Privacy has become a necessity in business and security professionals have taken note, Cisco Systems' Director of Privacy Robert Waitman, CIPP/E, CIPP/US, CIPT, writes. According to data from Cisco's 2023 Privacy Benchmark Study, "94% of organizations said customers wouldn’t buy from them if their data was not properly protected and 95% said privacy has become a business imperative." The study compiled insights from 3,100 data security professionals from 23 countries, which found organizations allocated $2.7 million, on average, for privacy initiatives, which represented a 125% increase from three years ago.
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