During a recent panel discussion hosted by NetApp, industry leaders expressed belief that EU data protection reform will be beneficial for the companies in the continent.
During discussions about implications of changes in data protection law and the impact on citizens and businesses, the panel members said that the new legislation will create clear guidelines for companies.
The discussion was focused upon three key areas, which included the challenges facing business, EU legislation in a global context, and its impact on technology.
They said that the new rules offer better protection to citizens and will make business more fluid across the EU.
According to NetApp Product Solutions alliances manager Laurence James, EU regulations to protect data will increase the value of business, which is also likely to attract investment from outside the EU to use the data.
The panellists also discussed the "Right to be forgotten" which will allow individuals to wipe out data from the internet that is no longer relevant.
They believe that it will create immense technological problems, especially involving companies where data stored across numerous databases and IT systems has to be deleted.
One of the panellist and Node4 head of sales south Steve Denby said: "The principles of the original law have stood the test of time reasonably well, but there is an acknowledgement that things need to change.
"If you think back to 2012 and how technology has developed since the proposal was published, you can see how difficult it is for laws to keep up in this area. Companies will need to review their processes and ensure that the C Suite is fully up to speed and involved in this process."
