February 28, 2024 at 10:05AM
In 2023, 8 US states passed data privacy laws, with 4 more set to take effect in 2024, including Oregon, Montana, Texas, and Florida. While laws share similarities, they exhibit state-specific nuances, such as different thresholds and varied personal information definitions. Additionally, GenAI is attracting attention, prompting the need for structured policies to manage AI deployment within businesses. This year will also see emerging data privacy trends, including more comprehensive privacy laws, increased enforcement from the FTC, heightened attention to data privacy due to the US presidential election, a focus on children’s privacy, and the trending topic of data sovereignty. Businesses are urged to assess and manage data processing risk and comply with new regulations related to AI usage.
From the meeting notes, the key takeaways are as follows:
1. Data Privacy Legislation: Eight US states passed data privacy legislation in 2023, and in 2024, laws will come into effect in four states including Oregon, Montana, Texas, and Florida. The laws share similarities but also exhibit state-specific nuances, reflecting a national trend towards unified data protection standards.
2. State-specific Nuances: Each state’s privacy law has unique elements, such as Montana’s lower threshold for defining personal information, Texas’ innovative approach to small business definition, and Oregon’s comprehensive data protection encompassing linked devices and sensitive categories like gender and transgender information.
3. AI and Data Privacy: The rise of generative artificial intelligence (GenAI) presents challenges for data privacy, with the need for structured policies and processes to manage AI deployment. Concerns include unstructured data usage, privacy impact assessment, and the potential for AI to inadvertently leak sensitive information.
4. Emerging Data Privacy Trends: Anticipated trends for 2024 include continued adoption of comprehensive privacy laws, increased enforcement from the Federal Trade Commission (FTC), heightened attention to data privacy due to the presidential election year, and a focus on data sovereignty and data localization.
5. Business Preparation: Businesses are advised to evaluate their data processing and risk management strategies in light of evolving regulations and the increasing role of AI in their operations.
These clear takeaways from the meeting notes provide a comprehensive understanding of the current landscape of data privacy laws and the intersection with generative artificial intelligence, as well as an outlook on emerging trends that businesses should anticipate in 2024.