3 Changes to Canadian Privacy Law That Will Impact Business, AI, & Healthcare

 


Whether you are a new Canadian startup looking to break into the healthcare app or artificial intelligence markets, a large enterprise that deals in a lot of consumer data, or a business within the science or education technology sectors, you may find it harder to comply with Canadian privacy legislation. The government of Canada has announced that they will be making several major and minor changes to Canadian privacy law, with 3of the most important ones impacting several large sectors. Here is what you need to know!

1. Privacy Protections are set to Increase.

The Minister of Innovation, Science, and Economic Development, the Honourable Navdeep Bains has introduced the Consumer Privacy Protection Act, which proposes a new bill to upgrade the Federal Government’s framework for protecting personal information in private sectors.

·         What does this bill do? This bill looks at enhancing the control over both personal information and corresponding data at the highest level.

·         Why is this important? It means that companies will need to be aggressive and transparent about the collection of personal information and how it is used and stored. It also introduces a fine for any company that is not compliant with the Customer Consumer Privacy Protection Act. The fine is up to 5% of global revenues or up to $25 million.

·         What does this mean? If passed, it gives the privacy commissioner the ability to handle Canadian privacy law violation cases without any outside influence.

2. AI Tech will be Regulated.

The Privacy Commissioner of Canada, Daniel Therrien, introduced steps in November 2020 for ways to regulate artificial intelligence. He believes that artificial intelligence has massive potential but that it needs to be implemented with respect to human rights and security policies. With a “rights-based” approach, Daniel Therrien believes that AI Tech can be developed responsibly.

Why is this important? The current use of AI Tech is to decipher meaningful patterns in historical data to help make predictions about future events. This could be anything from the trend of insurance premiums to how many people qualify for loans. With tech that can use data in this manner, the lives of real people can be truly impacted.


Comments

Post a Comment

Popular posts from this blog

Benefits of choosing CNC over conventional machine

Today, manufacturing industries rely on (computer numeric control) CNC machining rather than conventional machines for manufacturing. CNC machines have- Replaced the manually operated equipment Made the manufacturing and fabrication process easy Efficiently and precisely produce large quantities Save money and production cost CNC machines Essex is a modified version of traditional machines used by manufacturers to produce machine parts, products or items. The industrial equipment such as centre lathes, routers, drills and millers are operated through computer numerical control. Computer numerical control is not like typical PCs. It is software used to control the machine that is customized and programmed with codes. There is a use of language that helps in controlling features like speed, location, coordination and feed rate. Thus, one skilled person is enough to operate several CNC machines unlike conventional machines, which required more labour. Manufacturing industries ...
Read more

Long-term rentals are beneficial and useful. How?

Investing in real estate is one of the best ways of making money. It is comprised of different methods and strategies that range from fix and flips, turn-key properties to AirBnb rentals. With so many options available, what can be one of the best ways of making money in real estate? Every realtor will have a different answer to this question. In France, most of them would invest in long-term rentals. Long-term rentals are the properties that are purchased and rented out for long-term lettings in France . This is one of the most profitable ways of investing in real estate and provides many other benefits. ·          Positive cash flow   Renting out the property ensures positive cash flow. This means you will have a profit even after paying the expenses from rental income. It is easy to achieve this goal in long-term rentals. Tenants would feel secured with long-term lettings that ensure all the expenses are paid off properly. Use ...
Read more

How to prepare for a mortgage application during the coronavirus lockdown?

The COVID-19 has put the mortgage plans on hold for many people. Real estate agents have also closed the doors temporarily, on-site valuations have been put on hold and mortgage products have been removed from the market. Even in this tough time, there is a light at the end of the tunnel. During this uncertainty, lenders are expanding their base and policies towards automated valuations. They are still creating purchase options.  Even if your plans have been put on hold, you can think about the application process. Once this lockdown opens, work with a mortgage advisor Guildford to make your application go smooth and processed quickly. A mortgage advisor is a middleman between you and the potential lenders. They work on your behalf and find the appropriate lenders with competitive interest rates based on your needs. They have a list of lenders they work with that can make your life and process easy. Mortgage advisors Surrey are licensed and regulated financial professionals w...
Read more