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DEAL OR NO DEAL, GDPR REMAINS RELEVANT

By Austen Clark

 

With the clock ticking down until Brexit finally becomes a reality, there remains much confusion, puzzlement and mixed messages about the what life will be like in the UK after we quit Europe.

 

I have no crystal ball to predict what impact Brexit will have on the nation – but I can safely say that the EU’s General Data Protection Regulation (GDPR) directive has helped organisations take a serious look at how they handle personal data, and to act accordingly.

 

That is no bad thing. The UK’s withdrawal from the European Union isn’t going to change the need in having high principles when it comes to handling people’s personal data.

 

At the time of writing, I don’t know what – if any – kind of deal the UK is going to leave Europe with come March 29. With so much discussion and debate over Brexit, it’s hardly surprising the question of whether UK organisations will remain under the jurisdiction of GDPR has again raised its head.

 

Before GDPR became into effect, on 25th May last year, there was a degree of uncertainty in some quarters over whether UK businesses would need to comply given the ongoing negotiations on Brexit.

 

Some business commentators speculated that given the UK had initiated Brexit, GDPR compliance would not be required.

 

Back then the Queen’s Speech made it clear that the UK would be adopting all of the GDPR requirements, further committing to the UK remaining “world class” in terms of its data protection regime.

 

So GDPR is very relevant. The UK is severing its links from the EU’s legal framework, but it continues to stand by GDPR meantime. Brexit is no ‘get out clause’; UK companies that wish to continue to do business with the EU after Brexit will need to comply with the Regulation to avoid infringements.

 

Think of what I call the ‘wider reach’ of GDPR. Organisations quite rightly want to continue trading with as little disruption as possible and those that are GDPR-compliant can show they have the correct measures in place to protect their customers’ personal data and have the adequate level of protection required.

 

We may live on an island, but the global economy means that commerce stretches beyond shores and borders. Organisations all over the world have EU citizens as customers and they need to regard their legal obligations in order not to flout the regulation.

 

So the EU’s GDPR will continue to apply to UK companies that collect or process data relating to EU residents post-Brexit. GDPR has been a good thing, bringing in tighter data protection procedures and charting the way towards a stronger regime.

 

UK businesses with EU clients will continue to have a responsibility to have stringent rules on personal data – and complying with GDPR has put them in that position. So whether it is GDPR or a similar law that follows, the need to protect personal data will remain.

 

Remember, the plus points of GDPR are many – better-defined data subject’s rights, the ability to exercise more control over how, when and why their personal data is being used, the opportunities to file complaints when necessary with pre-defined authorities or employees of the companies.

 

Deal or no deal, there will be no immediate change in the UK’s data protection standards – The Data Protection Act of 2018 is still in place, and the EU Withdrawal Act would incorporate the GDPR alongside it.

 

What is more, businesses that are already GDPR compliant can evidence that they have relevant measures in place to protect customer data.

 

The ICO has published guidance and practical tools to help organisations understand the implications and to help plan ahead for life after Brexit.

 

It can be viewed here:

https://ico.org.uk/for-organisations/data-protection-and-brexit/

For those who may still be in doubt, my advice is to refer to your IT services trainer and provider.

Clark Integrated Technologies has helped organisations become GDPR compliant, find out more visit www.clark-it.com

 

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Top 10

WHY INDONESIA IS THE WORLD’S NEXT DIGITAL PAYMENTS BATTLEGROUND

Kelvin Phua, Global Head of Payment Networks at PPRO

 

The COVID-19 outbreak has seen the e-commerce sector surge. Despite economic uncertainty, consumers around the world are turning to the internet for the goods and services that they previously would have looked for in-store. In APAC, this has meant that some emerging markets have accelerated their adoption of digital services; the growth that was projected to take years has only taken months.

One notable example of this is Indonesia. According to a recent survey, Indonesia’s e-commerce sector is expecting 50% year-on-year growth with its value set to reach US$35 billion in 2020, up from $23 billion in 2019. What’s more, 30% of the country’s growing e-commerce market is new to online marketplaces and 40% intend to keep using e-commerce after the effects of the pandemic lessen.

With this upward trend has come a reliance on digital payments, and both public and private sectors have responded accordingly. Recently, the Indonesian central bank announced that all mobile payment providers were to replace QR codes with the standardised QRIS (Indonesian Standard QR code), providing a single integrated platform for all transactions made using QR codes across multiple e-wallet providers. On the private sector front, LinkAja has launched an online shopping solution to overhaul traditional marketplaces throughout Jakarta by enabling users to pay for goods using an app with the products delivered straight to their door.

For e-commerce and digital payment providers, these examples are good indicators that the time is right to go after a share of this market.

 

Understanding the playing field

Indonesia possesses many of the key characteristics that are critical to a market’s adoption of digital payments. With a smartphone penetration rate of 60%, well above the region’s average of 51%[1], and having witnessed its middle class grow from 7% to 20% of the population over the last 15 years, it comes as no surprise that Indonesia’s internet economy has more than quadrupled in size since 2015.

Currently, there are 37 local payment methods (LPMs)[2] in Indonesia, with GoPay, Doku, OVO, Dana, and LinkAja some of the frontrunners in the battle to claim a slice of the payments pie. This number is expected to grow as Alipay formalises its entry into Indonesia in partnership with Bank Mandiri and Bank Rakyat Indonesia, joining WeChat Pay which was officially granted a licence to operate in the country this January in collaboration with CIMB Niaga.

The growing number of players jumping on board with digital transactions bodes well for the Government’s National Non-Cash Movement launched in 2014. Go-Jek’s recent funding round and Facebook’s plans to build an e-commerce ecosystem around WhatsApp will help accelerate the adoption of digital payments for millions of SMEs in Indonesia, with businesses already using the popular messaging service to interact with their customers. Similarly, PayPal’s arrangement with Go-Jek will see the latter’s users use GoPay at PayPal merchants globally.

With the influx of foreign payment services and investment catering to higher consumer demand while creating the digital infrastructure needed to facilitate higher payment volumes, Indonesia is shaping up to be Southeast Asia’s next digital payments battleground. But what does this actually mean for businesses and consumers there?

 

Navigating a fragmented payments landscape

With all this consolidation and market movement, payment providers are innovating quickly to strengthen and enrich their offerings by partnering with others to develop their own unique payment ecosystems. Initially, these new partnerships will result in greater efficiencies when it comes to connecting consumers and businesses through one platform. But the fundamental pain point remains; the development of multiple payment ecosystems will continue to create the dilemma of choice. Consolidation in the truest sense of the word is yet to be achieved, and the payments landscape in Indonesia remains highly fragmented.

Since Indonesia loosened investment rules in 2016, foreign e-commerce players such as Amazon and Alibaba have entered the domestic market, competing against homegrown firms such as Tokopedia and Bukalapak. This has provided consumers with access to a wider variety of goods at more competitive prices.

To keep up with consumer preferences in Southeast Asia’s largest economy, merchants and payment service providers would need to evolve – by delivering a customer-centric experience where consumers are able to pay with the local payment method they prefer and trust.

In the long term, businesses should refrain from the drawing of battle lines in Indonesia’s fragmented payments landscape and create a payment ecosystem that takes into account payment preferences of the local consumers. Those who seek to enter multiple markets through one payments platform-as-a-service will be the ones most likely to succeed in capturing the lion’s share of the e-commerce market.

 

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Technology

ARTIFICIAL INTELLIGENCE AND FUTURE OF TECHNOLOGY

Ashish Jain, CEO, Future FX

 

Artificial Intelligence refers to machine intelligence that is programmed to think like humans and mimic their actions. For example while writing this article, I am not actually typing it but dictating it out using the microphone and the text is being typed by Microsoft Word itself.

The ideal characteristic of artificial intelligence is to rationalize and take actions to achieve a specified goal.

As technology advances the previous methods of artificial intelligence are taken for granted as new necessities are conjured. For example the computer was one of the most iconic invention of artificial intelligence but now it is considered as mandatory.

Artificial intelligence is continuously evolving and has to evolve. Machines are made in a way that they understand mathematics, linguistic, psychology and many more other terms that are related to human mind.

Artificial intelligence is used in many sectors for example the medical sector. It is used to test drugs and medicines.

We have applications and games which includes chess where the computer plays against us this is also a feature of artificial intelligence. Similarly self driving cars are also an invention of artificial intelligence. These have to be designed very intelligently.

This can also be used in the financial industry to trace and flag activities in banking and finance such as unusual debit card activity or usage and large deposits.

This also helps to estimate the demand supply and prices of the estimates and that makes trading easier.

Earlier, we had to pay a visit to bank on order to deposit a cheque. Then we updated to ATM/Debit Cards and now you can be identified by your retina. Many different sectors have also adapted this method to make actions it more convenient and safe.

Some more examples of artificial intelligence are iPhone’s Siri, Google’s Smart Assistant, Amazon’s Alexa, Google Maps, Ride- sharing apps like Uber and Ola, diseases mapping, Automated investing, virtual travel booking, social media monitoring, inter team chat tool, NLP tools, etc.

Artificial intelligence is all around us and playing an active role in our daily lives. Every time we open our Facebook newsfeed, do a Google search, get a product recommendation from Amazon or book a trip online, we are using it immensely.

In the coming years, computers might match or even exceed human intelligence and capabilities on tasks such as decision- making, reasoning and learning, analytics and pattern recognition, visual acuity, speech recognition and language translation.

Smart systems in commodities, vehicles, day to day use objects will save time and effort offering us a more customized and comfortable future.

It will help the medical sector hugely in upgrading the medicines and treatments, inventing new ones which haven’t been found yet and making everyone’s lives more safer and healthier. A large number of data can be collected from person to person about their health and nutrition and thus changes can be made in the lifestyle.

Artificial intelligence will bring changes in the educational system making it more revolutionary and advanced.

Overall, every factor has advantages and disadvantages and artificial intelligence has it’s lot too. Considering all the advantages artificial intelligence will also affect the human decision making power, analyzing and rational thinking, lifestyle etc. It will make people lazier and will affect their creativity. It can also lead to unemployment due to increase in usage of machines.

Like everything has a balance, artificial intelligence needs to be balanced too so that we can enjoy it’s benefits without suffering the negatives.

 

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