Two acronyms are sure to grab headlines in 2018: AI and GDPR.
Gartner called AI the most disruptive technology of the next 10 years, and the technology will certainly continue to generate attention with advances and new applications in 2018.
The General Data Protection Regulation (GDPR) — a set of stringent European Union rules governing the way companies collect, manage, and use information about EU citizens — was described as a top priority by 92 percent of corporate leaders who responded to a recent survey.
GDPR has put in place a May 25th, 2018 compliance deadline with significant penalties for noncompliance. If an organization doesn’t meet this deadline, it is subject to fines of up to 4 percent of its annual worldwide revenue or €20 million, whichever is greater.
This begs the question: Can AI help organizations meet the GDPR’s compliance deadline and avoid penalties?
After all, AI is all about handling and deriving insights from vast amounts of data, and GDPR demands that organizations comb through their databases for rafts of personal information that falls under GDPR’s purview.
The answer: AI probably won’t be a magic bullet as companies scramble to address the regulation’s provisions.
For one thing, AI, despite all its promise, has not yet reached the adoption tipping point necessary to make it much of a factor in the GDPR effort.
“Total investment (internal and external) in AI reached somewhere in the range of $26 billion to $39 billion in 2016, with external investment tripling since 2013,” a McKinsey report says. “Despite this level of investment, however, AI…