Compliance is a must-do activity, not a nice-to-have. It is essential that companies extract maximum value from compliance processes, reducing the possibility of it being considered a cost centre. Technological innovation can help to lift some of the compliance burden. The level of technology you can realistically implement depends on how advanced the organisation is to start with. One company's moonshot could be another's business as usual.

President and CEO Rehan Jalil looked at how organizations conducted their privacy compliance practices and saw areas that could use improvement. He saw solutions that only handled part of an entity's compliance efforts and a lot of work privacy professionals had to conduct manually. It is why Jalil and his company launched Privaci.ai, a platform designed to automate compliance tasks through the use of artificial intelligence and bots. Privaci was created to tackle data subject access requests, collect consent, assess third-party vendors and assist organizations as they conduct privacy impact assessments. To help bolster these efforts, Privaci recently announced it has obtained $31 million in Series A funding, which Jalil said will be used to continue to service its customers, as well as provide support to its team of 130 employees.