Unlocking the Value of Personal Data: From Collection to Usage
The World Economic Forum published a report late last month that offered one path -- one that leans heavily on technology to protect privacy. The report grew out of a series of workshops on privacy held over the last year, sponsored by the forum and attended by government officials and privacy advocates, as well as business executives. The corporate members, more than others, shaped the final document.
The report, "Unlocking the Value of Personal Data: From Collection to Usage," recommends a major shift in the focus of regulation toward restricting the use of data. Curbs on the use of personal data, combined with new technological options, can give individuals control of their own information, according to the report, while permitting important data assets to flow relatively freely.
"There's no bad data, only bad uses of data," says Craig Mundie, a senior adviser at Microsoft, who worked on the position paper.
The report contains echoes of earlier times. The Fair Credit Reporting Act, passed in 1970, was the main response to the mainframe privacy challenge. The law permitted the collection of personal financial information by the credit bureaus, but restricted its use mainly to three areas: credit, insurance and employment.
Dr. Alex Pentland, a computational social scientist and director of the Human Dynamics Lab at the M.I.T. is also collaborating with law experts, like Scott L. David of the University of Washington, to develop innovative contract rules for handling and exchanging data that insures privacy and security and minimizes risk.