The retail sector is on the cusp of transformation with advancements in the Internet of Things (IoT), big data, cloud, robotics and artificial intelligence (AI). Consumers are becoming increasingly connected as new sales platforms and marketing techniques flood the industry. However this plethora of innovation brings with it a darker risk.
Retailers now store more consumer data than ever before across an increasing range of digital platforms, providing cybercriminals with more data to target and more doorways to access them. As retailers invest in technology to collect and exploit new and existing customer data, there is a corresponding rise in the need for them to navigate the regulatory issues unique to this technology and to maintain effective systems and controls to ensure the security of the collected data.