The European Union has adopted a General Data Protection Regulation (GDPR) which will take effect in May, 2018. In January 2017, Price Waterhouse Coopers conducted a survey about preparing for the GDPR of 200 General Counsel and C-level executives from U.S. companies with over 500 employees. The survey results include:
- Fifty-four percent of respondents cited GDPR readiness as the highest priority for their organization’s security and data privacy program, with an additional thirty-eight percent counting GDPR readiness as one of several top priorities
- Seventy-seven percent of respondents plan to invest more than $1 million for GDPR preparation
- U. S. companies are re-evaluating their presence in Europe, with sixty-four percent contemplating centralizing data centers in Europe.
Source: Ossian Law