Data Is the New Currency
iAngels co-founder and co-CEO Mor Assia writes about shaping privacy ownership and control
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Multinational corporations are coming under attack for privacy violation. Tech giants like Google and Facebook and their social media subsidiaries are being slapped with fines in various parts of the world. Companies are going to have to reinvent themselves to deal with the potential loss of revenues stemming from data monetization. They will have to review data flow on an ongoing basis, depending on artificial intelligence-enabled solutions for automatic and seamless performance. Consumer needs differ depending on age: seniors in the developed world, who hold the greatest financial power today, are experiencing loss of trust and as a result are voting with their pockets. Meanwhile, tech-savvy millennials, often seen as sharing anything online, know how to retain control of their own data. They demand ownership of their personal data and potentially the right to be compensated for any use of it.
Mor Assia is a founding Partner and Co-CEO of Tel Aviv-based venture capital firm iAngels Crowd Ltd. She took part in the opening of the Israeli Innovation Center at the Peres Center for Peace and Innovation, on October 25 during the Israeli Innovation Summit held under the auspices of the Israeli Prime Minister.