Western India Regional Council of
The Institute of Chartered Accountants of India

Law Update Details

August 2018 CA. Ajay Dave

The IT Update Corner’ is intended to keep members abreast with news and views on the topic with short-url link to read the update in detail on the source webpage.

#ArtificialIntelligence #AI All companies need an AI strategy today. Any AI effort will rely on three main building blocks: data, infrastructure, and talent. AI is a foundational technology that will disrupt society and lead to decades of innovation. AI is already transforming how we do business, and for companies large and small this could mean an unsettling change. Companies implementing an AI strategy today will be best positioned to take advantage of the opportunities to come. Read here: https://bit.ly/2vYcAEE

#GDPR #DataPrivacy #DataProtection The European Union’s (EU) General Data Protection Regulation (GDPR) envisages strict rules for handling personal data of users and specifies new protocols for handling and storing private data, and sharing it with third parties. Flouting the rules can attract a maximum fine equivalent to 4% of an organization’s global annual revenue or €20 million, whichever is higher. On the face of it the Information Technology Act, 2000 and associated rules address data protection standards. However, as GDPR has a very high benchmark of data protection, the Indian laws on data protection will have to be worked out accordingly. Download the report here: https://bit.ly/2uz4svK

#NeuroMarketing NeuroMarketing is a marketing approach that’s aimed at capturing customer behavior from huge volumes of data taken from sources like: Social media networking websites, E-commerce websites, website behavioral data sources (ie; search behavior, links clicked, site navigation, etc.). Neuromarketing requires big data resources to support both batch and real-time analytics. In its essence, neuromarketing is any type of marketing method that relies on sub-conscious or unconscious decision-making. Read here: https://bit.ly/2mwQ3ff

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