According to Forbes, the GDPR has already cost U.S. Fortune 500 companies $7.8 billion in compliance costs prior to its implementation. For mid-sized firms, the average of spending on compliance in those two years was $550,000. One specific group of people is therefore likely to tell you that the regulation is just wonderful: legal advisors and consulting firms.
Beyond this crony-like benefit, data policy is on its way to a drastic—and probably counter-productive—transformation: Facebook and Google alone have racked up $8.8 billion in lawsuits from just one day of GDPR.
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