The global privacy landscape is in the midst of a tectonic shift. A new paradigm of privacy (dubbed Privacy 2.0) has emerged from the convergence of three major challenges: Rising customer expectations, new regulations such as the California Privacy Rights Act (CRPA), along with impending state and federal regulations, and the persistent threat of data breaches. These challenges are further compounded by the explosion of enterprise data, particularly unstructured data, over the last decade.
Privacy 2.0 has exposed a gaping hole in even the most robust enterprise privacy programs: the inability to accurately and scalably identify sensitive and personal information (PI) hidden in enterprise data.
Today, we launch Text IQ for Privacy to fill this gaping hole by enabling enterprises to proactively manage personal information, particularly hard-to-find sensitive information which otherwise remains hidden in large unstructured data sets. Powered by breakthrough AI and unsupervised machine-learning techniques, Text IQ for Privacy automatically identifies and categorizes personal and sensitive information from both structured and unstructured sources, enabling redaction and deduplication before presenting the findings for human review.
According to Apoorv Agarwal, Text IQ’s CEO and cofounder, “Most solutions available now can find relevant data from within structured sources. But finding it from within unstructured sources – 80% of today’s enterprise data – is a much higher hill to climb. What sets us apart is the ability of Text IQ for Privacy to accurately identify personal and sensitive data equally well from structured and unstructured sources.”
Text IQ for Privacy includes some key capabilities:
- Data Categorization, to accurately identify sensitive information and eliminate manual data mapping.
- Discovery & Redaction, to accurately identify personal information and reduce disclosure risk.
- Data Breach Response, to automatically deduplicate and associate data to entities, thereby reducing response time by 50%.
- Data Subject Access Request (DSAR) Fulfillment Automation, to meet aggressive request deadlines and reduce manual review by 75%.
“Our customers tell us that in addition to the cost savings they’re seeing from Text IQ for Privacy, they’re also feeling more at ease when the pressure is on to find personal information,” said Omar Haroun, Text IQ’s chief operating officer and cofounder. “Because the software returns more accurate information than other solutions, the risks associated with failing to find relevant data and meeting regulatory requirements is greatly reduced."
In this new era of Privacy 2.0, enterprises are left to believe that they have two choices: continue leveraging data-centric models to mine insights that further their business objectives without taking account of privacy considerations; or build a more circumspect privacy program that prioritizes the security of sensitive and personal information over customer analytics and data modelling.
But this is a false dichotomy; By leveraging Text IQ for Privacy to proactively identify, manage and categorize sensitive and personal information, enterprises do not have to make a choice between being “data-first” or “privacy-first”—they can be both.
Text IQ for Privacy is already being used by a host of Fortune 500 companies across a range of industries to elevate their privacy programs. Check out our solution guide to learn more.