Data custodianship today involves managing and protecting vast quantities of sensitive information, requiring organisations to ensure security, regulatory compliance, and ethical usage. It’s not just about protecting data from breaches but also about responsible storage, access, and deletion that aligns with strict industry standards and evolving privacy regulations.
The ethical dimensions of data custodianship add further complexity as organisations balance the need for data-driven insights with privacy rights and transparent usage. Mismanagement can lead to significant financial, legal, and reputational risks, making effective custodianship essential for maintaining customer trust and regulatory compliance.
In this episode, Paulina Rios Maya, Head of Industry Relations, speaks to Debbie Reynolds, Founder and Chief Data Privacy Officer at Debbie Reynolds Consulting, about compliance with global regulations, the role of AI in data management, and the necessity of human oversight in technology.
Key Takeaways:
- Data custodianship emphasises that data belongs to individuals, not companies.
- Organisations must have a comprehensive plan for data management throughout its lifecycle.
- Transparency and communication with consumers are essential in data handling.
- Different types of data require different levels of protection based on risk.
- Building trust with consumers requires responsible data practices.
- Organisations need to prioritise basic data protection strategies over compliance with every regulation.
Chapters:
00:00 - Introduction to Data Custodianship
03:03 - Understanding Responsibilities in Data Handling
05:59 - Balancing Innovation and Data Protection
08:45 - Building Trust Through Responsible Data Practices
12:07 - Navigating Compliance and Data Governance
14:54 - Leveraging AI for Enhanced Data Custodianship
18:06 - The Role of Humans in Technology and Data Management
