What is the impact of privacy regulations on tech companies? 🔊
The impact of privacy regulations on tech companies is profound as they must ensure compliance with stringent laws like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). These regulations mandate how companies collect, store, and process personal data, impacting data handling practices significantly. Companies must invest in security measures, ensure transparency in data use, and implement rights for consumers over their information, like access and deletion. Compliance can enhance trust and credibility, but also increases operational costs and necessitates ongoing adjustments in practices.
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