Since a writer for The Economist claimed in 2017 that data was more valuable than oil, data’s role in our lives has only grown. In 2024, the demand for personal data—spanning everything from healthcare information to online shopping habits—remains intense. We live in a world where we often trade personal data for convenience or enhanced user experiences. But with this rise in data sharing comes heightened privacy risks and a rapidly evolving data security landscape.
Quick Tips for Data Protection
- Use Strong, Unique Passwords: Avoid using the same password across sites to minimize breach risk.
- Regularly Update Software: Keeping software up-to-date protects against known vulnerabilities.
- Limit App Permissions: Only allow essential permissions to reduce data sharing risks.
- Enable Two-Factor Authentication: Adding an extra layer of security can prevent unauthorized access.
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Why Are We Sharing More Data?
People increasingly share personal information in exchange for smoother online experiences, personalization, and convenience. A 2024 survey by Pew Research Center shows that 75% of Americans are willing to share basic personal data to access digital services, while 59% are willing to share health data for more tailored health insights. This reflects a growing trend in “pragmatic” trade-offs, where users value the benefits of an app enough to share personal data, but they also expect secure data management and privacy.
Data Security Trends by the Numbers
- Ransomware Attacks Up by 40%: The FBI reported a 40% rise in ransomware incidents in 2023, with total losses exceeding $10 billion.
- IoT Devices Expected to Reach 75 Billion by 2025: According to Statista, IoT adoption is surging, which could increase potential cybersecurity risks without adequate protections.
- Projected Data Growth: By 2025, global data generation is expected to be 10 times greater than today (IDC Report).
The Modern Data Economy: Key Trends for 2025
Here are the four biggest trends shaping data privacy and security this year, along with five actionable ways to protect yourself.
Cybersecurity Awareness Is at an All-Time High
With data breaches making headlines and impacting millions, the need for cybersecurity has gone mainstream. Consumers and businesses alike are aware of the risks and are demanding better protections. As of 2024, 74% of companies report investing more in cybersecurity than in previous years, and 57% of users express concerns about personal data security when using apps and digital platforms (Deloitte Insights). In response:
- Privacy-focused startups are emerging to help users protect sensitive data. Companies offer encrypted “data vaults” and apps with built-in privacy assistants.
- Tech giants have introduced stronger data security policies. For instance, Apple’s privacy features require explicit consent for tracking, and Google has enhanced privacy labels for apps on the Play Store.
Evolving Privacy Legislation in the U.S. and Beyond
Data privacy laws are expanding globally, with nearly 60% of the world’s population now covered under some form of privacy regulation. The European Union’s GDPR, implemented in 2018, set the standard. Now, the U.S. is catching up. States such as California, Colorado, and Virginia have led the way with their data privacy laws, and in 2024, Washington and Utah joined the ranks.
This year, Congress reintroduced the American Data Protection and Privacy Act (ADPPA), seeking to unify privacy standards across the nation. Other countries, like Brazil, South Korea, and Japan, have enacted their own robust data laws, further pressuring multinational companies to strengthen data protections worldwide.
Shift in Cybersecurity Threats: Remote Work and Ransomware
The rise of hybrid and remote work has led to a surge in cybersecurity risks. 76% of companies experienced a data breach linked to remote work vulnerabilities in 2023 (IBM Security Report), highlighting the urgent need for secure, remote-friendly networks. Key threats in 2024 include:
- Ransomware attacks: The FBI reports that ransomware incidents rose by 40% in 2023, costing U.S. businesses over $10 billion. High-profile ransomware attacks, such as the 2023 breach of a major U.S. healthcare provider, have made clear the consequences of inadequate defenses.
- Supply chain vulnerabilities: In a “supply chain attack,” cybercriminals exploit third-party software to access sensitive data. Such attacks increased by 150% from 2022 to 2024, putting critical infrastructure and companies at heightened risk.
The End of Third-Party Cookies and the Rise of New Tracking Models
With privacy regulations tightening, companies are shifting from third-party cookies to newer, less invasive tracking models. Google’s Privacy Sandbox and Apple’s App Tracking Transparency frameworks allow users more control over who accesses their data. In 2024, 85% of digital advertisers reported a transition to first-party data tracking due to these changes, according to a report by eMarketer.
In addition, technologies like Universal ID 2.0 offer anonymized identifiers based on encrypted emails, providing a middle ground for targeted advertising without compromising privacy. This shift empowers users with more control and transparency over who collects their data and for what purpose.
Internet of Things (IoT) Security Concerns
IoT devices—everything from smart fridges to home assistants—have transformed how we interact with technology, but they come with security challenges. By 2025, Statista projects 75 billion IoT devices globally, but the majority lack robust cybersecurity features. Without protections like encryption or firewalls, these devices are vulnerable to breaches. For instance, a recent security report found that 45% of all IoT attacks involve devices in smart homes.
Protecting Yourself in the New Data Economy: 5 Steps
Here are five effective ways to safeguard your data in 2024:
- Use Privacy-Focused Browsers and VPNs: Browsers like DuckDuckGo and Brave block trackers and help prevent fingerprinting, while VPNs encrypt your internet traffic. These tools provide a solid privacy foundation by limiting who can track your online movements.
- Use a Password Manager: Password managers like Dashlane and 1Password generate and store complex passwords for every account, reducing the risk of reuse and improving your security posture. Remember, the top causes of breaches are weak passwords and reused credentials.
- Enable Multi-Factor Authentication (MFA): MFA adds a layer of security to sensitive accounts. 93% of users who enabled MFA report feeling more secure with it in place. For critical accounts (e.g., banking, email), MFA can prevent unauthorized access even if passwords are compromised.
- Use Anti-Virus Software on All Devices: Paid anti-virus software, such as Norton 360 or Bitdefender, offers real-time scanning and updates to protect against emerging threats. While both Windows and macOS have built-in security features, premium software can enhance your protection, especially against advanced malware and phishing attempts.
- Stay Informed and Update Regularly: Cybersecurity evolves constantly. Make it a habit to read updates from reliable sources, such as Cybersecurity & Infrastructure Security Agency (CISA) or NIST, to stay ahead of new threats and apply software updates promptly.
The Future of Data Privacy and Security: Key Emerging Technologies
The landscape of data privacy and cybersecurity is rapidly evolving. As we look ahead to the next three to five years, several groundbreaking technologies are expected to reshape how personal data is secured and managed. Here are four transformative technologies poised to drive the future of data protection:
1. AI-Driven Cybersecurity: Faster, Smarter, and Proactive Protection
AI-powered cybersecurity is changing how threats are detected, analyzed, and mitigated, making it possible for organizations to respond faster to potential breaches.
- Automated Threat Detection: AI systems analyze vast data streams to spot patterns that signal potential threats, often before they can cause harm.
- Behavioral Analysis and Predictive Analytics: By learning typical user behaviors, AI can detect anomalies that may indicate security breaches, adding a proactive layer of protection.
- Fraud Detection in Financial Services: AI-driven fraud detection identifies suspicious transactions in real-time, helping banks and financial institutions safeguard against fraud.
Why It Matters: As cyber threats grow more sophisticated, AI-driven cybersecurity provides a faster, smarter, and more adaptable defense, helping businesses and consumers stay ahead of malicious actors.
2. Blockchain for Decentralized Data Protection
Blockchain’s decentralized, tamper-proof design is transforming data privacy by giving individuals more control over their personal information.
- Data Ownership and Transparency: Blockchain allows users to control and track who accesses their data, ideal for secure identity management and medical records.
- Immutable Audit Trails: Once data is added to a blockchain, it cannot be altered without consensus, creating a transparent and tamper-resistant record.
- Smart Contracts for Secure Data Sharing: Smart contracts enable automated, conditional data-sharing agreements, ensuring data is shared only under agreed-upon terms.
Why It Matters: By decentralizing data storage and access, blockchain reduces the reliance on centralized databases, which are often prime targets for cyberattacks.
3. Advanced Encryption and Privacy-Enhancing Technologies (PETs)
New encryption methods, like homomorphic encryption and zero-knowledge proofs, are enabling data to be used securely without compromising privacy.
- Homomorphic Encryption: This technique allows data to be processed in its encrypted form, making it especially useful for sensitive sectors like healthcare and finance.
- Zero-Knowledge Proofs (ZKPs): ZKPs allow verification of data without exposing it, ensuring secure identity verification without revealing sensitive information.
- Cloud Data Security: Advanced encryption protects data in cloud environments, addressing privacy concerns associated with third-party providers.
Why It Matters: PETs empower organizations to analyze and use data while safeguarding user privacy, meeting both security needs and regulatory requirements.
4. Federated Learning: Privacy-Preserving AI Training
Federated learning enables AI models to train on decentralized data without the need to centralize it, reducing privacy risks while improving AI capabilities.
- Local Data Training: AI models train on local devices (such as smartphones), allowing data to stay on the device while contributing to a central model.
- Enhanced Privacy in AI: Federated learning supports privacy by design, preventing the need for raw data transfers and minimizing data exposure.
- Applications in Personalization and Healthcare: Federated learning enables personalized services—like predictive text or healthcare recommendations—without compromising user data.
Why It Matters: Federated learning combines privacy and personalization, allowing companies to deliver tailored services without risking user data exposure.
Looking Ahead: What These Innovations Mean for Data Privacy and Security
As these technologies advance, they promise to provide stronger, more adaptable data protection solutions, offering:
- Enhanced Control: Users gain greater ownership over their data, with improved transparency and security.
- Proactive Security: AI-driven defenses and advanced encryption techniques empower organizations to prevent breaches before they happen.
- Privacy-First Innovation: Federated learning and privacy-enhancing technologies balance the demand for personalized services with the need for data protection.
The future of data privacy lies in a combination of these technologies, which collectively support a safer, privacy-conscious digital environment. As these solutions evolve, they offer the potential for enhanced protection, ensuring data privacy and security for both individuals and organizations in the years to come.
Embracing a Secure Digital Future
In 2024, data security is a shared responsibility between users, companies, and regulators. With data generation expected to grow tenfold by 2025 (IDC Report), building robust data security practices now is essential for a safe digital future. Embracing privacy-first apps, strengthening personal security, and staying informed can ensure that you reap the benefits of the digital age without compromising your privacy.
But it starts by paying attention to the online security gaps of today. Take our quiz for a personalized recommendation about your household’s online security. Learn more about Batten and how you can be prepared for a digital breach.