In-house compliance processes are often considered static, complex, and time-consuming. If intelligently anchored, however, the compliance division plays a key role in promoting data-driven innovation effectively and in conformity with statutory regulations.
European companies oriented to technology often labor under the perception that the laws, standards, and rules relating to data protection and security are a barrier to extensive innovation. One commonly expressed opinion is that the strict laws in these areas are causing Europe to fall far behind China and America. The sense is that these regulations block the use of the data that are produced (or could be produced) for data-driven innovation. This is presumably the reason why even today very few data-driven innovations originate in Europe.
