Only a few years ago, few people thought about personal data past their credit scores or medical information. Data was the domain of scientists, analysts, policymakers, and financial industries. Today, the sheer volume and types of data generated by our use of new technologies, including smartphones and other IoT devices, has raised new awareness that our every action creates valuable personal information that can be mined and monetized by others, often without our knowledge, consent or ability to opt-out – data that being collected, stored, used, and sold by an unknown number of actors.
Those data can also be used in training of multi-use AI models that are subsequently deployed to drive decisions on everything from financial accessibility to hiring. The result is a concerning lack of balance: too few people control and capitalize the data of the many while individuals, communities, and society as a whole are missing out on innumerable beneficial opportunities to harness that data for the greater good.
In order to more equitably realize the benefits, and protect people from the negative ramifications, every level of society needs to be part of the future data paradigm.
