![]() More than 60% of North American consumers would rather purchase from companies that adequately protect their data, according to an ATB Ventures survey. Companies also must guard data to carry out legal agreements with business partners – a notoriously tricky task – and to maintain trust with customers. Once executives saw penalties levied against high-profile companies like Google (hit with a painful $50-million fine in 2019), they understood they had to make big changes, such as better handling of data usage and making data policies easier to understand and more accessible to consumers.Įnacted in 2018, the GDPR threatens fines of 20 million euros or 4% of global revenues for misuse of consumer data. Enacted in 2018, the GDPR marked a sea change in executives’ attitudes toward data privacy as it threatened fines of 20 million euros (US$11.7) or 4% of global revenues for misuse of consumer data. The more enlightened approach to handling data arose not from an abundance of respect for individuals and their data but rather from the specter of lost money. And revealing this information would surely have a chilling effect on others who might have participated in medical research. Also, employees have been fired after disclosing their cancer diagnosis. For starters, most cancer patients would not want their diagnosis made public, especially if the prognosis is terminal. Just imagine, for instance, if the identity of a cancer patient in the TMI example was revealed. But – and this is a big one – this data must be kept private, securely cloaking individual identifying characteristics known as Personal Identifying Information in keeping with the European Union’s General Data Protection Regulation (GDPR) and additional regulations, among other reasons. And the ever-burgeoning volumes of all types of data hold the promise of more dormant innovations in virtually every area of life and work, from finding cures and novel treatments for disease to discovering the next invention that will revolutionize your market. This breakthrough would not have been possible without patients – those with and without cancer – who agreed to share their data. Observers believe TMI could become the gold standard for detecting cancer while also helping doctors predict patient survivability and select treatments – a major step forward for medical science and humanity. Called the Tumor Matrisome Index (TMI), the scorecard requires only a blood test, enabling patients to avoid invasive biopsies while providing critical information to help guide their oncologists in determining the best care. The anonymized data aims to ensure that no individual identity can be discovered within the data. The result was a genetic scorecard that doctors can use to detect cancer, predict patient survivability, and gauge how well an individual might respond to immunotherapy. The team used machine learning techniques against an anonymized data set containing information from both healthy individuals and cancer patients, 30,000 in all, who had opted to be part of the data set for the sake of science. ![]() That made the recent announcement from researchers at the National University of Singapore so important: they had created a data-based tool with the potential to revolutionize cancer diagnosis and treatment. And these days, you can’t do that without looking at patient data while protecting the identities of the people attached to that data. It’s difficult to achieve breakthroughs in cancer research without studying real people and what happens to them. Governance, Risk, Compliance (GRC), and CybersecurityĮngineering, Construction, and Operationsįederal, National, and Central Government Accounts Receivable, Billing and Revenue Management
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