2: People will actually read online Terms & Conditions
In mid-2018, the EU will update the General Data Protection Regulation (GDPR) in several significant ways. Hear us out before we lose you because this is important: Customers of any digital service – all of us – are becoming the owners of the data that we produce when using these services. The regulation strengthens how that data is protected for all of us in the EU, aiming to give control back to us private users. It also changes how companies ask for your permission to use your data.
Terms & Conditions must be reinvented so that consumers know what data they give away and for what purpose. “This reinvention is key and we are going to see a lot of variations around Terms and Conditions in the beginning. We expect that the best solutions will be copied, so watch out. New Terms & Conditions are coming to your favourite app – and you’ll want to read them!” says Sandberg.
The jury is still out on how this could affect those in Asia, but we anticipate ripple effects in the months and years ahead. “Global companies like Google and Facebook might make their improved Terms and Conditions apply globally,” adds Sandberg.