What American Enterprises Can Learn From Europe's GDPR Mistakes

After almost a decade of "will they or won't they," the United States is on the cusp of its own sweeping data privacy law. The recently proposed American Privacy Rights Act (APRA) aims to establish robust regulations about eight years after the implementation of Europe's General Data Protection Regulation (GDPR).

However, the road to compliance won't be smooth. A look back at Europe's experience with the GDPR suggests significant business growing pains on the horizon. Even before the regulation kicked in, one-third of EU companies were concerned their technology couldn't effectively manage data. Those fears proved well-founded as organizations grappled with the GDPR's expansive scope, complex risk assessments, and stringent recordkeeping requirements. On average, firms spent a staggering 1.3 million euros just to prepare for the new rules.

As the US braces for its data privacy overhaul, enterprises should take heed of Europe's trials and tribulations. Staying ahead of APRA by updating data practices, training staff, and ensuring compliance from the outset will be critical to avoiding the same costly missteps.

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