The Cambridge Analytica scandal should serve as an example to fund managers using AI and data from third parties to identify investment opportunities, according to data privacy experts. Data scraping is one practice that is noted as potential problematic under new GDPR regulations that come into force in Opimas GDPR places new obligations on all parties handling data, from advertisers to asset managers, with breaches in the EU liable for fines of up to €20m or 4% of annual turnover. Last year, consulting firm May. anticipated that hedge fund managers will spend $7bn on alternative data sources by 2020.
The Cambridge Analytica scandal should serve as an example to fund managers using AI and data from third parties to identify investment opportunities, according to data privacy experts. Data scraping is one practice that is noted as potential problematic under new GDPR regulations that come into force in May. GDPR places new obligations on all parties handling data, from advertisers to asset managers, with breaches in the EU liable for fines of up to €20m or 4% of annual turnover. Last year, consulting firm Opimas anticipated that hedge fund managers will spend $7bn on alternative data sources by 2020.