The UK and US will create a ‘data bridge’ as an extension to the Data Privacy Framework which is set to facilitate the free flow of personal data between the two countries.
The new ‘data bridge’ will speed up the delivery of data enabled services to the US which reached GBP£79 million in 2021, making up 93% of the UK’s services exports.
International data transfers hold a prominent place in modern day business transactions; however, red tape currently holds back the partnership between the two countries meaning UK businesses must have costly contract clauses in place to ensure protection and compliance when sending personal data.
The two nations hope to speed up processes for businesses, reduce costs and increase opportunity making it easier for British businesses to operate and trade internationally while meaning US companies who are approved will be able to receive UK personal data.
Sridhar Iyengar, Managing Director of Zoho Europe, said: “We live in an increasingly digital era where copious amounts of data abound.
“It is great to see the UK government taking steps to allow businesses to utilise data effectively. Data has become one of the most valuable resources for businesses yielding huge benefits from informing strategic decision-making, to forecasting, to addressing operational inefficiencies, to customer preferences and much more.”
