are people ready for a world built on data trading?

one square is 1.000.000 GB of data generated by people everyday

source | internet live stats


In this era of hyper connectivity, the web and the internet connected devices are becoming an important part of many people’s lives: online users are now, 40% of the entire population, and they produce everyday 5.464.281.600 GB of data. As a result of the increase of online population and connected technologies in daily life, an unprecedented amount of personal data is being generated, collected, analysed and monetized; potentially, the benefits could be limitless for everyone. In this world of big data, companies are able to create entirely new business models, based on people’s information. By analyzing the current situation, it seems that companies could be ready to give services to users in exchange for their data, but what about society itself? Let’s explore this huge controversial topic by starting with explaining the relationship among the three main actors in this field: people, companies and governments.

Who are the actors involved?

people companies governments “Data, personalization, chatbots, VR: artificial intelligence is one of the factors that will have a huge impact on marketing and business in the future” “More than 3.7 billion humans use the internet (that’s a growth rate of 7.5 percent over 2016)” “More than one billion new internet users are expected, growing from three billion in 2015 to 5.1 billion by 2020.” “By implementing a big data platform, governments can access vast amounts of relevant information important to their daily functions. The positive effect it can have is nearly endless.” “According to the Observatory, the areas in which investments of the businesses and companies are growing the most are the intelligent elaboration of data with AI and algorithms, chatbots and recommendations to users for profiling” source | engage source | the guardian source | il sole 24 ore source | datafloq source | forbes

How is the revenue generated from big data worldwide?

years USD billions prevision 122 130 149 166 186 208 233 260 2017 2016 2015 50 100 150 200 250 300 2018 2019 2020 2021 2022

source | statista


People put online such big quantity of data and for this reason they want some kind of protection for their information. How is privacy over data regulated in the world? The Regulation on Privacy and Electronic Communications, also known as the ePrivacy Regulation, is a proposal by the EU Commission designed to strengthen the protection of citizens’ private lives, and creates new opportunities for business. The EU’s General Data Protection Regulation (or GDPR) came into effect on the 25th of May 2018, replacing the previous minimum standards. In the map below there is an overview of the legislations taken by governments all over the world: click on it to find out more.