Today’s business leaders face a dilemma between data as a critical component of their competitive strategy and the inherent risk that data collection and use brings with it. Capturing data, leveraging its value and retaining that data as an asset is the lifeblood of many corporate strategies and initiatives today.
But years of accruing data at all costs, negligence around protecting it from bad actors, and failure to be transparent about the use of that data have left consumers jaded and regulators reactive. The imperative to change has become more acute with the latest breakthroughs in data-fueled Artificial Intelligence.
It is not just a social responsibility for businesses to become better data stewards, but a competitive necessity. Accordingly, the Ethical Tech Project recommends that firms enact these responsible data principles: a social contract of privacy, agency, transparency, fairness, and accountability surrounding data’s lifecycle from its collection, to useful application, to retention.
Join us on the journey to build a more responsible future - one in which people can trust companies with their data and innovation is once again synonymous with doing good for the economy and society.