Surveillance Capitalism and Data Privacy in the Digital Age: Balancing Innovation with Regulatory Compliance

Advancements in technology have created the environment for companies to engage in systematic surveillance of individuals and exploit such data for profit without necessarily asking for the user’s permission. This paper therefore seeks to discuss the intricate correlation between surveillance capitalism and data privacy, and how well legislations like the GDPR and the CCPA have worked out. In a systematic literature review of academic works, the study analyses the ways through which surveillance capitalism is enacted, assesses the provided surveillance regulation strategies, and explores the possibilities of the tension between privacy and innovation. The results imply privacy’s prominence as well as the necessity for the implementation of privacy regulation at multiple levels based on the privacy-by-design concept, the use of such technologies as differential privacy, efficient enforcement measures for user privacy protection along the promotion of innovations. The paper concludes with policy recommendations that could improve international standards of data protection and ensure privacy as a right in the global economy.