09 NOV,2021 | MEDC
Many companies worldwide are engaged in a digital data gold rush, scanning the global economy for personal data, which would undoubtedly provide them a comparative advantage. Access to reliable data makes economies more productive, thus driving growth, employment and financial services. But on the flip side, an increasing amount of data can now be captured without individual consent (or even knowledge) by large platforms, whose valuations have risen exponentially in recent years. Developing reliable digital databases matters, but equally important is ensuring that enterprises do not use them for price discrimination or any other unfair trade practices, especially against the poor. Regulatory systems should formulate clear rules for tackling these trade-offs.
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