Great talk on Monday, May 23 2022 at the World Economic Forum Annual Meeting in Davos on “Building Responsible Data Ecosystems”. This session looked into how businesses can become more responsible when sharing data and how CEOs could harness the power of coalition with like-minded leaders.
Data Privacy was the main concern discussed by the panel. There were interesting ideas brought by participants. Firstly, that privacy matters should be addressed starting at the design phase when building data exchange environments, by adopting a “Privacy-by-design” approach.
Secondly, regulations play an important role in creating trust but too much regulation can kill innovation while no regulations can be harmful to stakeholders. Therefore there is a path to find for privacy management by means of responsibility, education and clarity on the intent when sharing data.
André Kudelski, CEO of the Kudelski Group, offered an interesting approach on how to inspire a positive form of consent through the marketing of what’s being done with data, to bust conspiracy theories on the use of personal data.
Fortunately, not all forms of data are equal. A large amount of data is not impacted by privacy and consent, especially those generated by the industry. These industrial data can be used to build powerful responsible data ecosystems leading to innovations and progress.
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