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"Good Privacy Is Good Business", Zero-Knowledge Systems President Austin Hill Advises Business And Policy Leaders At Privacy By Design Conference
For immediate release, December 1st, 2000
--"Companies must view privacy as a strategic business opportunity rather than a risk management issue"--
Montreal - December 1, 2000 - Austin Hill, president of privacy company Zero-Knowledge Systems Inc. and a leading authority on privacy issues, outlined the evolving privacy landscape and provided business and policy leaders with actionable solutions to address privacy during an opening address on November 20 at the first annual Privacy By Design conference. Presented by Zero-Knowledge Systems and sponsored by Royal Bank Financial Group, IBM, Merrill Lynch, and PricewaterhouseCoopers, Privacy By Design advised attendees on how to develop, execute and market a successful privacy strategy to take advantage of business opportunities, differentiate their business in the marketplace and avoid regulatory breaches with a demonstrable commitment to privacy.
Mr. Hill opened the Privacy By Design conference by asserting, "Good privacy is good business." He continued, "By incorporating the appropriate technologies and adhering to regulatory policies, companies can take advantage of the many business opportunities that exist when privacy is fully addressed."
"When companies begin to look at a more holistic approach to privacy, their perceptions shift from viewing privacy as a risk management issue to viewing it as a strategic opportunity for their company," said Mr. Hill. "Companies that approach privacy from a strategic point of view will have a competitive advantage to leverage in developing stronger customer relationships and increasing brand loyalty."
Increased Access and Storage = Increased Privacy Risks
Mr. Hill outlined several key factors-such as exponential increases in bandwidth and networked data storage-that will contribute to an expanding privacy problem over the next five years. As bandwidth increases and storage costs decrease, Mr. Hill predicts that an enormous amount of data, much of it personal information, will be collected and stored at a multitude of locations. While hospitals, governments and credit bureaus traditionally stored data at discrete, unconnected locations, the addition of computers, the Internet and new digital devices results in tremendous growth in the storage of networked digital data.
"Traditionally, we had a wake of personal data that accumulated behind us, but eventually settled. With the accelerating rate of technology and its pervasive impact on us, the digital wake never disappears," said Mr. Hill. "Over the next five years, consumers will no longer accept certain forms of electronic commerce, Internet connections, social networks or networked devices unless they feel their 'digital wake' is respectfully protected by the businesses and organizations with which they interact."
Recommendations for Proactive Privacy Approach
Mr. Hill concluded his address by making five recommendations for companies that wish to take a proactive approach to solving their privacy challenges:
- Privacy as executive focus: Privacy initiatives require strategic involvement and recognition from top executives to be pervasively addressed across a business
- Privacy affects products and services: Privacy must become an inherent part of the design process
- Privacy affect alliances and partnerships: Because these deals can hinge on privacy concerns, business development executives must have a strategic awareness of privacy implications
- Privacy technologies: Invest early in privacy-enhancing technologies and infrastructures to avoid problems later
- Privacy as a process: Remember that privacy is a process, not a one-time product fix
About Privacy By Design
The first annual Privacy by Design conference, presented by Zero-Knowledge Systems and sponsored by Royal Bank Financial Group, IBM, Merrill Lynch, and PricewaterhouseCoopers, took place from November 19-21 at Chateau Montebello in Quebec. Incorporating the privacy expertise of leading business, technology and privacy figures, Privacy by Design advises attendees on how to develop, execute and market a successful privacy strategy that will avoid regulatory breaches and differentiate their business in the marketplace with a demonstrable commitment to privacy. For information on attending or sponsoring the 2001 Privacy By Design conference, please contact Mary Carlson at maryc@zeroknowledge.com or one of the contact names below.
About Zero-Knowledge Systems, Inc.
Founded in 1997, Zero-Knowledge Systems (http://www.zeroknowledge.com) is the leading provider of privacy-enabling technologies and services to both consumers and enterprise. Zero-Knowledge enables privacy through advanced mathematics, cryptography and source code: the only reliable way to ensure privacy.
In October 2000, Zero-Knowledge launched Managed Privacy Services™ to provide expert consultation and privacy-enhancing solutions that enable businesses to comply with privacy legislation, maximize customer relationships and build consumer trust without violating privacy. More information about MPS can be found at http://www.zeroknowledge.com/en/eps.php. In December 1999, Zero-Knowledge launched Freedom®, the only privacy system that empowers Internet users to surf the Web, send email, chat and post to newsgroups in total privacy without having to trust third parties with their personal information. A fully redesigned Freedom 2.0 will be available for download in mid-December at http://www.freedom.net.
(Freedom®, Zero-Knowledge® and Managed Privacy Services™ are registered trademarks of Zero-Knowledge Systems, Inc. All other names may be trademarks of their respective owners.)
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