Since the General Data Protection Regulation (GDPR) was enforced on May 25, 2018, many have complied with it lest they face unprecedented non-compliance fines and other consequences. GDPR, at its core, is the new set of rules designed for EU individuals to give them more control over their data. Its objective is to make the regulatory environment simple so that both businesses and their customers in the EU can ultimately benefit from the digital economy.
In this article, we’ll be tackling the top industries affected by GDPR, the challenges that they face since the regulation has come into effect over a year ago, and the benefits they receive from this data privacy law. These industries are the following: social media, online retail, digital banking, cloud computing, and healthcare.