How can businesses strike a balance between leveraging innovative technology for personalized customer experiences and maintaining ethical data practices to protect consumer privacy in today's digital age?

Businesses can strike a balance by implementing transparent data collection and usage policies, obtaining explicit consent from customers before collecting their data, and regularly updating privacy policies to reflect changing regulations. They can also invest in secure data storage and encryption technologies to protect customer information from cyber threats. Additionally, businesses can prioritize customer education on data privacy and provide options for customers to control the use of their personal information.