Tech Giants & Data Protection: Should They Self-Regulate? | Summary and Q&A

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February 15, 2019
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Investor's Business Daily
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Tech Giants & Data Protection: Should They Self-Regulate?

TL;DR

Tech companies need to do a better job at both harnessing and protecting data to successfully introduce new technologies.

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Questions & Answers

Q: Are companies doing enough to protect data and introduce new technologies successfully?

While companies are proficient at harnessing data, there is room for improvement in data protection. Privacy concerns and consumer trust are major challenges that need to be addressed.

Q: Is data more valuable than artificial intelligence software?

In some respects, data is more valuable than the software itself. AI software can be commoditized and readily available, but collecting and analyzing relevant data is crucial for generating meaningful insights.

Q: Why is it important to protect specific data in autonomous vehicles?

While people may not care about the data related to how a car is driven, protecting location data, conversations within the car, and personal preferences is crucial for privacy and security.

Q: How can companies bridge the gap between consumers and data usage?

Companies should improve outreach efforts and communicate transparently with consumers about the data being collected, why it is collected, and how it is used. This helps build trust and addresses concerns.

Summary & Key Takeaways

  • Companies are successfully harnessing the data they need for artificial intelligence but struggle to protect it.

  • Data collection is essential for training AI, but companies face challenges around privacy and consumer trust.

  • Better outreach is necessary to inform consumers about the data being collected and how it is used.

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