"I think we will dig through this hole, but it will take a few years. I wish I could solve all these issues in three months or six months, but I just think the reality is that solving some of these questions are just going to take a longer period of time," Chief Executive Mark Zuckerberg said in an interview to Vox.com.
Facebook announced last week it would shut down the Partner Categories, which allows third-party data providers to offer their targeting directly on Facebook.
It also plans to introduce new privacy tools in the coming weeks to allow users to more easily manage and access their personal data.
On Thursday, Zuckerberg apologized for the situation with Cambridge Analytica and admitted that he should not have trusted the firm. He has said there were several mistakes that led to the situation, adding that most of the actions needed to prevent this from happening again were already taken years ago.