Manchester-based data analytics-as-a-service company, Peak, is helping businesses become and remain GDPR compliant with its new AI and machine learning powered solution.
The new EU-wide regulations on data protection and privacy, which come into play on 25 May 2018, will see businesses face hefty fines if they don’t adhere to the new rules and best practices of GDPR.
Peak has developed a unique solution to help businesses from any industry conduct Data Protection Impact Assessments (DPIAs), which are mandatory under the new regulations, while tackling the requirements of GDPR without disruption.
It boasts bespoke discovery capabilities and monitoring, performing audits to highlight personal data and therefore allowing companies to evidence best practice GDPR compliance.
Ideal for those working with data from across multiple sources and large complicated legacy systems, the solution works by initially dividing personal data into categories based on factors such as sensitivity, security and personal identification. Peak’s AI algorithms then classify the data and perform a risk assessment, identifying GDPR risk exposure and measuring risk impact.
Once data has been profiled, it is presented in a personalised dashboard, highlighting high, medium and low risk data fields on an ongoing basis. The process is then repeated regularly to ensure data is remains consistently GDPR-compliant.
The subscription-based solution allows for fast and cost-effective onboarding, and is already being adopted by e-commerce businesses working with different types of data from multiple sources.
Richard Potter, CEO of Peak, said: “Translating the key definitions and concepts of GDPR into an actionable strategy is one of the biggest challenges currently facing businesses. It’s not just about taking steps to become compliant, it’s going the extra mile to make sure your data continuously remains in line with GDPR in the future.
“We understand that large companies still work with legacy systems and collect data from different sources which will make it difficult to become GDPR compliant. With this in mind, we’ve developed this solution to analyse all of that data in one quick assessment to save time and money, while also evidencing best practice compliance.”
Peak worked with independent data protection expert, Julian Parkin, to develop the solution. He said: “What’s exciting about Peak’s AI-driven GDPR compliance platform is its bespoke discovery and monitoring capabilities. It will undoubtedly be used to drive down costs in the discovery phase and data protection impact assessments, as well as being critical to continued compliance.”
This development comes after Peak secured £2.5m in Series A investment in late 2017 to fund the company’s ongoing developments in machine learning and AI technologies.
Peak will be hosting a webinar with further information on how the GDPR solution works in practice and can help you become compliant. For further information, visit http://bit.ly/Peak-GDPR-Webinar.