Data privacy is a major concern in the modern day for several reasons:

• Increased Data Collection: We generate massive amounts of data daily through our online activity, social media use, location tracking, and interactions with smart devices. This creates a vast pool of personal information that companies and governments collect.
• Lack of Transparency and Control: Often, we have little understanding of how our data is collected, used, or shared with third parties. Privacy policies can be complex and difficult to understand, making it hard to control what happens to our information.
• Potential for Misuse: Data breaches, identity theft, and targeted advertising are just a few of the risks associated with data collection. Our information can be used to manipulate us, discriminate against us, or even put us in danger.
• Loss of Autonomy: The pervasive collection of data can create a feeling of being constantly monitored and tracked. This can erode our sense of privacy and autonomy, impacting our behavior and decision-making.

Relevance in Various Aspects:

• Financial Security: Data breaches can expose financial information, leading to fraud and identity theft.
• Social and Personal Lives: Our online activity can be used to create detailed profiles that could be used to discriminate against us in areas like employment or insurance.
• Safety and Security: In some cases, data collection by governments or corporations could be used for surveillance or tracking, raising concerns about freedom of movement and expression.

Overall, data privacy is relevant because it directly impacts our sense of security, autonomy, and control over our personal information in an increasingly data-driven world. As technology continues to evolve, finding solutions to protect our privacy will be crucial.

Also, from another source:

Data privacy is highly relevant in the modern era due to several key factors:

1. Proliferation of Data: With the advent of digital technology, data generation has skyrocketed. Every online interaction, transaction, or even movement tracked by devices generates data. This vast amount of data can contain sensitive personal information, making privacy concerns paramount.
2. Cybersecurity Threats: Data breaches and cyberattacks are on the rise, targeting both individuals and organizations. Personal data, if compromised, can lead to identity theft, financial fraud, and other forms of cybercrime. Ensuring data privacy is essential for protecting individuals from such malicious activities.
3. Legal and Regulatory Frameworks: Governments around the world are enacting stringent data protection laws and regulations to safeguard individuals’ privacy rights. Examples include the General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) in the United States. Compliance with these regulations is crucial for organizations to avoid hefty fines and legal consequences.
4. Trust and Reputation: Maintaining the trust of customers, clients, and users is vital for businesses and institutions. Data breaches or mishandling of personal information can erode trust and damage reputation irreparably. Prioritizing data privacy demonstrates commitment to ethical practices and customer welfare.
5. Ethical Considerations: Respecting individuals’ privacy is not just a legal requirement but also an ethical imperative. People have the right to control their personal information and decide how it is collected, used, and shared. Respecting these rights is fundamental to upholding human dignity and autonomy.
6. Data Monetization and Surveillance: In the age of big data, personal information is often commodified and exploited for targeted advertising, surveillance, and other purposes without individuals’ consent. Safeguarding data privacy is essential to prevent such exploitation and maintain individuals’ autonomy over their data.
7. Emerging Technologies: Innovations such as artificial intelligence, machine learning, and Internet of Things (IoT) devices introduce new challenges to data privacy. These technologies often collect and process large volumes of data, raising concerns about data security, transparency, and consent.

In summary, data privacy is relevant in the modern day because it affects individuals’ rights, cybersecurity, legal compliance, trust, ethical principles, and the responsible use of technology. Protecting data privacy is essential for fostering a safe, secure, and ethical digital ecosystem.