Matthew Rosenquist forecasts that privacy teams will face tighter EU enforcement, narrower regulatory gray areas, and budget cuts in 2023. Economic slowdowns will strain staff while regulators demand more transparency from social media platforms.
2023 will be a challenging year for privacy teams. There will be more pressure on both ends with more regulation enforcement, primarily in the EU, and interpretations of regulations becoming more narrow to lessen the maneuvering in gray areas by companies. This will put even greater pressure on organizations, especially social media, for transparency, adherence, and verification of ethical privacy practices. At the same time, expectations are rising. Privacy and cybersecurity teams will likely suffer with more constrained budgets due to global economic slowdowns. The result is that privacy teams will need to navigate a delicate balance to be successful. This will increase stress and attrition, but overall will drive improved efficiency. 2023 will be a tough year for both privacy and cybersecurity team.
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