The complexity of the privacy work landscape is further complicated by the differences in legislation across various countries. According to Michael Trovato, managing partner at IIS and former EY cybersecurity lead partner, the privacy sector is heavily influenced by the laws and regulations of each country, making it a challenging field to navigate. In contrast, cybersecurity is more technology-focused and has a more universal approach. Trovato points out that cybersecurity experts from different countries can easily discuss and understand each other’s work, but when it comes to privacy, the conversations can vary significantly, leading to a disconnect in communication.
The challenge of hiring qualified privacy professionals is likened to trying to find a mythical creature, as explained by Kazi. The ideal candidate for a privacy role is expected to have a diverse skill set, including legal knowledge, technical expertise, understanding of user interface and experience, ethical background, and proficiency in artificial intelligence. However, the compensation for such a multifaceted position is often not commensurate with the required qualifications, making it a tough recruiting task for organizations.
Furthermore, a survey revealed that 43% of organizations feel that their privacy budget is inadequate, and almost half of them anticipate budget cuts in the near future. One of the issues contributing to this financial challenge is the misconception that investing in cybersecurity automatically covers privacy concerns. Kazi emphasizes the importance of understanding the distinction between the two fields, especially since cybersecurity professionals are also facing high levels of stress and understaffing.
The increasing demand for privacy experts, coupled with the limited pool of qualified candidates and budget constraints, creates a pressing issue for organizations trying to secure their data and comply with regulations. As data privacy becomes a top priority for consumers and regulators worldwide, the need for skilled professionals who can navigate the complex legal and technological landscape of privacy will continue to grow.
Despite the challenges in hiring and funding privacy experts, organizations are recognizing the importance of investing in this area to protect their reputation and maintain customer trust. By acknowledging the distinct differences between cybersecurity and privacy, companies can develop a more comprehensive approach to data protection and compliance, ultimately mitigating risks and ensuring long-term success in an increasingly digital world.