2024 Global Benchmark Report | TrustArc

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Section 1

Skip to Main Content 2024 Global Privacy Benchmarks Report TrustArc’s 5th Annual Global Privacy Benchmarks Report provides a comprehensive corporate view into privacy developments worldwide, including insights from our Global Privacy Index. In the current climate of digital transformation and compliance, the emphasis on risk and privacy remains crucial. Many companies have elevated their privacy initiatives and increased investments in data security and data protection as core components of their operational and growth strategies. While AI presents significant new challenges, enforcing a growing list of privacy laws has intensified, demanding higher due diligence and accountability from organizations. This report delves into how corporate priorities and strategies concerning privacy are shifting and underscores the integral role of privacy in maintaining public

Section 2

trust and organizational growth. The top three privacy risks for companies in 2024 are AI, brand reputation, and compliance. Maintaining brand trust remains the top privacy goal. Regulatory compliance follows closely as the second priority goal. Using dedicated privacy management solutions and principles based approaches to privacy results in the highest privacy competence scores. "Taking a principles based framework approach (e.g., Nymity PMAF, TRUSTe Enterprise) to privacy results in high privacy competence, with an average score of 74% on the Global Privacy Index, compared to a rules-based regulatory approach score at 56%."