If approved, APRA would erect a complicated new web of regulations and mandates for how companies treat their users' data, with the goal of making it harder to mine said data for misuse against individuals.
A core provision of APRA is its requirement that companies de-identify their user data in order to develop a product or service, a process that is very difficult and expensive, even for highly skilled data scientists.
The cost of compliance with this rule would be enormous and could hinder innovation and entrepreneurship, potentially benefiting major companies like Meta and Amazon at the expense of smaller entities.
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