We’re entering the data ownership era where consumers will retain control of their data and stop giving it away for free. Here’s why it's more powerful in their hands. MastercardAP ad
and there is a public commitment to digital infrastructure, commonalities found in countries across Asia.
Data is a waste when it's used mindlessly like this. But a smart, well-governed strategy for data and its usage will empower both people and businesses.Data can create a vibrant portrait of a person's life, their behavior, and their preferences. As such, it's a powerful thing. In the digital economy, there are broadly three different types of data: data of identity, data of places, and data of experiences.
Secondly, data of places can be used to geolocate consumer behavior, collecting information on where you shop, drive, and live. This is powerful and sensitive information. But when AI goes wrong, drawing incorrect conclusions from its data inputs, it can do real damage. For example, in healthcare in the US, AI has made dangerous recommendations for people of color,. Currently, most data on the internet relates to white men. People of color, women, and marginalized groups are not well represented. To change this, we must look at the data.
In the coming years, we will enter a"phase of consent" that will increase trust. People will have a say in how their data is used and what they get in return. At the moment, we are often confronted with a long, complicated list of terms and conditions when we give away our data. But soon, we will be able to be more specific about what data we want to give away and for which uses.
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