In the era of rapid digital transformation, data privacy and security have become of paramount concern for businesses in India. The recent podcast episode, “Revolutionizing Data Privacy in India: The Role of Consent-Driven Digital Identity”, hosted by Deepti Ahuja of HT SmartCast, highlights the evolving landscape of digital identity and the important role of consent-driven data sharing.
India’s identity and access management market is witnessing significant growth as organizations adopt new technologies. With the Digital Personal Data Protection Bill, 2023, introducing concepts like “deemed consent” and right to withdraw consent, changes are being made in sectors like BFSI, life sciences and retail. The podcast highlights how Indian companies are taking advantage of these rules to increase secure data sharing while ensuring customer privacy.
Mani James, Chief Business Officer, Mosaic Digital, emphasizes that the estimated AI spending in India could reach $11.78 billion by 2025. With a projected 5G contribution of 2% to GDP by 2030, these advancements provide strategic opportunities for businesses specializing in digital identity. , However, the challenge remains: making the process simple for customers. “We needed to simplify the process, making sure to maintain security while providing a seamless experience,” says James.
Glenn Gore, CEO of Affinity, brings a unique perspective on the need for companies to shift from platform-defined to self-defined identity. As data regulations become stricter, businesses must prioritize ensuring data security and consent-driven practices. The future of privacy will require a delicate balance between innovation and user trust. By enhancing identity verification methods with AI and blockchain technology, companies can streamline user experiences while strengthening security.
The podcast further explores the potential change that digital identity solutions could bring to India’s gig economy, which is projected to reach 23.5 million workers by 2029-30. In this rapidly changing work environment, securing digital identities will be critical to enable remote work, education, and social interaction.
Ultimately, businesses that proactively protect data and privacy will gain a competitive edge in the emerging trust-based economy. As the discussion concludes, it is clear that adopting innovative data security measures is critical to success in today’s fast-paced digital landscape. The road ahead for digital identity in India is an opportunity, where transparency and user control will shape the future of data privacy.
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