Why is information privacy important?

 First, information privacy is important because it is the law. It’s a subject that nobody thinks about until something goes wrong. It is critical that businesses comply with all of the relevant privacy laws in their jurisdiction and demonstrate due diligence so they can avoid privacy breaches and violations of customer privacy rights. Information privacy can also help build trust in your organization and foster a strong reputation. By safeguarding information and prioritizing privacy, businesses can foster greater adoption of new or existing technologies. As a result, privacy can help create a competitive advantage for businesses and can enable digital disruption for new technologies. When information privacy is not managed well, it puts organizations at risk and can lead to a security breach, which is extremely costly for organizations and their customers, investors, and board of directors.