How can companies ensure that the use of advanced artificial intelligence technologies in understanding customer needs and creating hyper-personalized products does not compromise customer privacy and data security?

Companies can ensure the privacy and data security of their customers by implementing strong encryption methods to protect sensitive information. They should also obtain explicit consent from customers before collecting and using their data for personalized products. Additionally, companies can regularly audit their AI systems to identify and address any potential security vulnerabilities. It is crucial for companies to be transparent with customers about how their data is being used and provide options for opting out of data collection if desired.