As artificial intelligence rapidly transforms the way organisations collect, analyse and use data, protecting personal information has become a major business priority, according to a senior executive at Aon.
Sharing her views on Data Privacy Day, Apurva Gopinath, Cyber Leader and Vice President, Financial Services & Professional Group, India at Aon, said the financial and reputational impact of data breaches has reached unprecedented levels. Citing publicly available sources, she noted that in 2025 the global average cost of a data breach was estimated at between $4.4 million and $4.9 million. At the same time, global cybercrime losses are projected to reach trillions of dollars annually, underlining how cyber incidents can severely damage finances, brand reputation and customer trust.
She said growing awareness among businesses is reflected in Aon’s Global Risk Management Survey. While “Cyber Attacks/Data Breach” continues to rank as the top risk for Indian companies, “Data Privacy Requirements/Non-Compliance” has now emerged as a major concern. This shift highlights the increasing influence of both global and local regulatory frameworks on business operations in India.
According to Gopinath, the message this Data Privacy Day is clear: data privacy is no longer just a compliance requirement but a foundation of trust. She stressed that organisations must collect only necessary personal data, protect the data they hold, and remain transparent about how artificial intelligence and data are used to deliver services.
She added that effective safeguards such as encryption, access management, data loss prevention and continuous monitoring are critical. When combined with cyber insurance and well-defined incident response mechanisms, these measures can help organisations significantly reduce the impact of potential data breaches and strengthen long-term business resilience.