Data is the New Currency, But is Someone Picking Your Pocket? – 2019 AT&T Business Summit
So. I know it's kind of the last, time last, 1/6. Of the conference. That's still left out there I think they have some interesting topics so what we going to do today is, we're gonna explore data, being as a new currency hey that's the topic right it is a new currency who is picking your pocket and then we want to explore and kind of have a good discussion, and a dialogue here to understand, what, it really means and what organizations, and companies as well as individuals, and consumers, could be doing differently right I don't know how many of you have been following it or know any of the personal properties, have. Been out, for business right if you have your own home, Airbnb, is letting you you know rent it out or lease it out or if you have your own car you can start driving it and you become uber now if you have your own data and I think we generate, a lot of data now right as individuals. As well as our usages, and so on and so forth right I think that like it's like half a billion tweets, in an hour in an hour and a second or in a minute or something like that and then so. It's a lot of data that's been generated also I mean, there, are companies being formed in a nominee if you follow there's a company called big token, which is basically letting you put. Your information and you can choose how you want to share it and then you get compensated, for it when your information, gets shared I think a lot of the advertising platforms. Do use it you know primarily creating, a consent platform, right so data is yours and how do you use it how do you choose to share it how do you choose to monetize, it both from our businesses and company perspective as well as from an individual perspective so so I think data is truly becoming a new currency. You, know I know oil used to be the new currency and data is the new currency now right so I think we want to explore further and, kind, of debate on what does it mean and and how organizations, can do certain things about protecting, it as well as kind, of you know leveraging, it for the business value right unlocking, the value behind it so, thank you thank you Shamblin Thank You Kathleen for joining here with me here right so we'll, get started we'll spend next 25 minutes you know but we have a few questions that we're gonna go over and have the conversation and, then we'll leave a few, minutes towards the end to have Q&A session as well right. Have we have we arrived have you arrived at the point where, we need to redefine what sensitive, or, sensitive, personal information is. So. I'm, gonna say that yes, we have and, and I think we have to have a really, honest, open debate. About this, topic if you just think about you know what constitutes, sensitive. Today if you under gdpr rules even your IP address on your devices, is now personal, information, sensitive. Information everything, including, your telephone number and things, that you could find publicly. Very easily and, so I actually think we've gone to this other extreme, of what's considered, sensitive or what's considered, personal, and it's. Not sustainable by, any means and if you think about what Karthik just said you know about data being the new currency, it, is the most valuable asset, that we have because. From a business, that, candid data gives you enormous, amount, of insights, both into your consumers, into. Your business your business practices and, for. The most part it helps you to deliver better services, to your consumers, so. Yes. The information is valuable and if, we keep trying to label it as sensitive, or personal, and therefore putting constraints, on it I think we're actually going to hit, a collision course pretty quickly where we all stifle, innovation so. We really need to have that debate is your IP address really, considered, sensitive is it really, personal, how what makes it personal etc. Those are conversations we ought to have but we have the point where we need to have that debate because more. Regulations, is gonna make it way more expensive to actually manage and protect and handle that data properly, and so. We have to have that debate I. Also. Think we have to distinguish, between personal, and business as well because you have intellectual, property in there for businesses, and that's a completely, different realm of, data so we're talking about the personal data which would be the IP the your, name your social security number birth date that type of thing then you have this whole group of data.
Within A business and. That's completely different that the business needs to function and that they've created and so that's that's a different level of sensitivity so, I think it's one of those things were really. What is sensitive, is in the eye of the beholder whether it's personal, or its business right, right, I guess it's also in, which industry you operate in right I mean even in AT&T we have a communications. Company which is obviously you. Know regulated, and then we have an advertising company and, then they're coming together so, I think it also depends on which, industry do you play in and how that industry regulations, are impacting, and affecting and how, do they define what's, the, level of sensitivity is to the data right so I think we need to really get to a point I think we're at a point where we can clearly say what sensitive. Across, the, pole and if you put if. We put the individual, or what, whichever the element, that is generating, the data in the center I think we can clearly define what happens, from that perspective right, and. I you know I think there's a little bit of public sensitivity. To this because we don't make the distinctions, we don't make the distinction between. Surveillance. It's kind of that state, action, and, you. Know commercial. Consumer. Based services. Oriented data, and I, think when we talk about privacy. Or sensitive or personal, all of these these concepts. Seem to, merge, into each other and one, frightens, the other in pretty serious and significant, ways and so, I feel like we really need to make that distinction, because. When we start talking about the commercial, environment it's, about goods, and services, it's about what I as a consumer want, and you. Know and if I look at some of the surveys recently, right there was a survey, that that. Accent' I think participated. In and they actually published. The reports, 68. Percent of Millennials said, they, want a seamless, digital. Integrated. Experience. And. One, of the things they talked about specifically. Was coupons. That they were getting now. You don't get those kinds of targeted, services if, you don't give up some of your information so. Really you know is my grocery store experience a personal, or sensitive matter, to me if it is great, then I should be able to give off my my you know I you, know ability to, get benefits, from the coupons etc, and, so I think that we have to make those distinctions for what happens, is when we have the dialogue people think about state surveillance they think about you, know Big Brother watching me and and watch. My every move and then taking action on. And we scare the grocery shoppers who might really want those coupons yeah I mean I think I think privacy, is different, for not. Only different communities, but also at different generations, right Generation Z and Generation and the Millennials and Gen X's might view, privacy. Differently. And, what we have one single blanket of that data privacy and that's what we are play across right now it just doesn't one, size doesn't fit all anymore right I think, it's also a matter of trust it's how much trust as a consumer, that we place in that, brand, that is asking us for the, information. That we're going to give them and if, we have that trust relationship with. Them and they've given us a reason to have trust because, we feel that they're going to keep our data secure, yeah, it's an easier decision as, a consumer, to say I want, that whole experience, I want that convenience, that dessert that you are going to give me and that you're offering me because. I'm going to allow you to have that data. So. Kind of moving on right what are the techniques and tools that. We can use to protect and, control, the data itself right both, from I mean how do you resource the data as well, as how do you you bind value use the data and how do you dispose the data off as well right so what are some of those, controls. And techniques that you guys are seeing in the industry right now that's being employed, with. Respect to the personal data I know that I've attended. Some summits, and some conferences, and everything. Seems to be moving in the direction of using blockchain, to. Secure. That data and then develop, markets. For that data and. That's what I'm saying, yeah. And one thing I would say is probably few, if any of us in this room can actually impact that whole surveillance, culture and content conversation, so, maybe if we table that for a moment and just talk about the commercial, aspects. Of data it makes a little bit easier right because the techniques that we might use will be a little bit different from what we might expect a government to use but. Generally I think you know GDP, are in particular. Started. Us down the road of knowing.
The Data and you. Know it's a burdensome. Hugely. Impactful. Activity. For any organization. But, knowing what you have is the beginnings, of knowing how you can, and so, when I think about data. You, know as this new, kind of resource, very valuable resource for businesses, we, really have to find it and, by. Finding, it I think we can be able to unleash the business value of the data it's not just about finding it so it can protected, and encrypted and, other things we, need to find the data so we can extract, the business, insights, that I embedded in the data that makes our businesses, better that will allow us to create new services. New products, new ways to serve our consumers, and so, we really need to find the data and if, we don't then. The data is gonna be buried there and we, know how to be able to protect it and someone else will find it for us and they, may not have very good intentions, and then there'd be all kinds, of other impacts, that fall out of that so I think finding, it and tagging. It is really important so knowing it's there and, one of the things I discourage people from using tagging, and classification. Together because those are two very different constructs. Tagging. Is saying I I know it's here and I know it contains this kind of information. Classifying. Is saying how do I actually view that information and, if we sit and start trying to classify our data we'll be doing this till I die out, of the system because let me tell you that classification. Is a very, resource. Intensive activity. With very little value that will come out of it simply, because we have so much data and. So this it's not it's not practical to go by file by file record, by record and try to classify right right I mean I think the data classification, in its current form across any of the organizations is probably, a useless exercise right, it's you. Know, it's it's very difficult to do you don't get done at all there's no finish line to it at all right I think we need to flip it in to be able to say what is the value of the data and what is it risk that the data process, and, and can. You fix it at the time of any event that's about app happened, right so even, for example in, organizations, look for data loss prevention and, and, traditional, data loss prevention techniques, start of use use, ik be it a classified, method right hey I can't send this I can't send this thing I think I think you're gonna like what we're doing at 18 is we're flipping it right we're saying I don't care if it's a risky behavior I want to be able to stop it it's not a data loss if only a particular sensitive, information is leaving, a volume, of data leaving, is also important, right when the data is leaving is important, right the behavioral elements also, comes into play when, you see how do you want to control and protect the data itself. If. I can expand, on that just a little bit I'll tell you the technique, that has worked the best for me is for, decades, we have been collecting data from lots of devices from, networks, and other kinds, of Technology, application. Systems, etc and we, try to make sense of what activity, that is and what what insights can we get from it one of the things I have, done and have seen enormous. Amounts, of value is from having that same kind of structure having, a sock for your data, because.
Often, We look at the technology and the technical, activity. But, we forget about the, data and, so I think that goes to what you were saying I think you know, they. You have we talk about it in terms of this insider, threat theft right inside a threat well. Just, think about the data if I am just a legitimate, normal, user without any point, tension, but my credentials, get stolen by someone and gets used for nefarious purposes I, want. Someone, to know that, my user, ID my credentials, is actually trying to do something or access data that I otherwise don't have the authority to use and and. You, know for the most part if you're using a legitimate, credential, you're gonna go right through every. Control, because, now I'm. A very high level executive. At a large company with a lot of authority so. Any, alarm. Is gonna show up and they go oh it's her okay fine she can keep doing this but. That activity, needs to be watched even though I am, a trusted. Insider my. Activity. Should never be assumed to be trusted, activity, though it. Kind of moving on right I think Kathleen. I mean how do you you. Know there's there's this challenge, right rott my data is raw right, raw, data is it is how do you put a value I, mean how does organization, can put a value to a piece of data right you look at it from a raw data or are. The insights that can be generated from the raw data when when. Oil and water doesn't mixer mixes it causes, other things right so the so, the impact and the consequences. Happen when multiple, things come in to a chemical reaction right so how do you define, or how do you guys how do you view as how, do you put value. On any data well, I do want to just say one thing you were talking, about identifying, the data in the organization, I think it's also important, to say that you need to identify the data that you don't need either that. It's not something that you need but, as far as valuing, the data I. Think it really is a matter, of what. Is that data worth, to the organization, they're going to be certain. You. Know uses, of that data that they're going to have to develop products and services, and that, creates value within the organization, so something. That they're. Utilizing, say their intellectual property is going to have more value and, then potentially, other. Pieces of data but, if they're in the. Industry. Of say selling ads something, like that they're targeting those ads the, data that they're collecting from, their consumers, and then, they're basically aggregating. That data and utilizing, it to provide insights, to the organization, that's, going to have a very very different value now I've seen some some, values as far as you know as personal, data what is that worth and it's anywhere from like $36. To 126. Dollars but. It really makes, a difference on, what. You have to give and what you have to offer and you know one of the examples that I think is a good one is if you're somebody who. Let's. Say your family has DNA, and you your, family is prone to a certain disease that, the, value of that data if you are owning that data and you are selling that to researchers. That, potentially, has a lot of value to the researchers for them to be able to create new drugs and. Also. Understand, from a medical perspective what, is happening with the DNA so it really has very, very different values depending on what the usage is. Yeah. You know what's interesting about that up until now we've, always had the conversation. In terms of the, consumer didn't, know what, the value of the data is and we didn't really use their opinion, but we think legislators, know everything, and so we let them regulate, what we should and shouldn't do and I actually feel like that equation, is, very much off balance the, consumer, is the only one who knows how valuable that information, is to them the, market, should be allowed to decide, how much is it worth to someone else and your example is perfect, because those families, who impacted, by that DNA that, information, is very valuable to them to, researchers, maybe, not so much if this is an isolated. Edge case they may not be willing to make huge investments in that correct, so somehow, we have to, recap. You know just kind, of revisit. Who. Makes the decisions, and then reconcile. The, value of data with the consumers. Input, and up to now we really haven't, included. The consumers, in the dialogue yeah yeah, I mean I if. You sum it up I think, it's more important, to look at it what is that data going to yield you in your business right or what, is that data is gonna yield somebody, else would, be valuable to valuable to your point kattiline, as well right and, I think if.
You Were to do something with the data what, kind of consequences could you have right negatively, if you lose it sell it you, know regulatory, legislative. Whatever that may be right so I think those three factors, should go into evaluating, the value right and also, whether the value, gets. Exponential. Value beyond, that based, on what kind of multiple elements that can be combined with it right your point about earlier right if somebody want, to get my IP address probably, it doesn't add value to it right it's you know we. We are at 18 DB say it's and Amber's and AT&T right, everything you can do this and that right so, when you combine this thing then. Then all of a sudden the value, kind of explodes, right so I think explosion, of value comes into play so I think you ought to be able to think, about that as well right and so how do you keep it together I think and. That that's an interesting conversation, because, like I was saying the market will then decide how much that data is worth but, remember, that one thing we don't always do is include the cost of protecting, it the. Cost of securing, the data and then the cost of handling it properly over, its lifetime so, we, need to include that in the cost equation versus. Just thinking about the value that it could generate for, me need to think about the cost it would take to actually do all the right things with it yeah yeah I mean I think I think when you connect spender well you can't reason I have one other question I want to lay out a couple of quick examples right an engineering, spec that is sent out to China for manufacturing, your product and they're doing it fine right, if, they use it for other purposes do, you care you, don't care that's one question right, question. B that I have is your trip to your supermarket, you're buying things, right, and you, want your. Your. Supermarket. Manufacturing. A perfect company to share the data with other manufacturers, so that they can give you targeted. Advertisements. Right that's again your data right, how, do you weave these three examples in terms of where. We need to go as an industry or as a company I. Personally. Don't want the supermarket, having my data but that's just me, and. That that's because when. I go home I don't want to have all of the ads for everything, that I was buying at the supermarket. And trying to get different parents but I know that I'm in probably the minority, at this point most, people want, that experience so, they. Don't have a problem giving that up but.
I Also think there's a question of do, you really realize, when. You are say. Installing, that app being in a rewards program something, like that do you really realize what you're giving up and. That. Really for. Me is the crux of the matter of of those. Permissions, that you're you that you're being asked, to accept when you download and install an app you, know most people don't read them they don't look at them and there's. A, huge, problem at. Least for me and I think also with for. People who are privacy, advocates, that. Sometimes. The developers, the, companies, need to do a little bit better job, with disclosure as, far, as how they're going to use that data yeah, how long they're, going to use that data have the data where, that data is going to go to whether, or not they're going to be third parties, involved. With. Respect to the. IP. That's, going to China if I'm, a company, I don't want that disclosed, because, it means that it's going to damage my ability to develop. Products and. But. They're only general if they were generating insights right you tell them you can use this compound to create your Golf Club and they. Then, human, the human brain is beautiful right I mean it makes inferences, right it is gonna make an inference if this can happen here I can go make it happen here and there's no way that you can connect that because of this is what that happened right it's not there remanufacturing. Another Golf Club but, they're actually using the graphite compound, and the mixture, to do something else right because that's the it's the data insights of the data inference, problem, seems to be a bigger challenge and a bigger problem and what, kind of you, know is there a way for a solution. Out of that piece. So. I I will answer that question you know yes it is it is it an important, decision, about whether you take that kind of activity. And you leave, it out in China well, if it's that valuable, to you why. Would you let it out of your sight for even a minute right. And so in my mind I think these are these are just economic. Decisions, that we make we put it there because it's cheaper to manufacture what, we have to recognize is the risk is that somebody will use it for the purpose it was never intended well. We're not gonna be able to stop that this is any any different, from somebody, with a photographic, memory showing. Up at your home and reading, you know the the invoice that they might see on the table well they're not gonna take it but they're gonna take Embry with them so, I think that those are the those are the realities, right as much as we can think regulation, might help us or taking, some steps might help us and, it's what I said this to a board of directors for a company I was AB some years ago and I said you know okay you don't want to deliver your material, on iPads, well, then, you need to deal with paper and they said no but we really want digital, material. And mike-mike my question to them was well, you cannot have it both ways so you make up your mind if you want it digital there's gonna be some element, of risk I will try my best to, limit. That but there's going to be an element of risk why because we got people in that workflow touching, the iPad therefore people are gonna see the material that they have to load onto it etc, and so unless you want somebody, like me to be doing that you.
Don't Go digital and so I said any if it's that valuable you're talking about an M&A activity, don't, put it in an electronic, device, talk. About it and you're meeting bring it on paper because. The fact is that if you give, it to anyone there's a chance they can use it but. I know, from a practical, and pragmatic purpose, it's gonna be very difficult if you don't put it into electronic, right I don't know a lot of companies are even getting rid of printers and I don't even have a printer a there's it's. Gonna be difficult right you, know I think continuing on I think one of the challenges that I do see in organizations, is you know we've been collecting and amassing data. For over 50 60 70 years now right and a lot of them are in an electronic, format right I have. This philosophical question, that I keep asking my team hey every, time somebody says that it is valuable than I ask the next question is. There a timestamp is there a shelf-life to a dating everything's got a shelf-life today right but why doesn't data, doesn't have a shelf-life right I mean if you're a healthcare company and if you don't protect a PII for. The example that I use is its it's my physicals, when I was 12 years old a long, time ago and, is that have to be equally protected by a healthcare company are we putting these companies in a burdensome manner to, equally protect everything that is more relevant to not relevant right so I think the industry really have to take and I think we're trying to see, is there a shelf life for a particular piece of data right, so, anything that you guys can comment on or your point of views would be appreciating. So. So is their shelf life they, ought to be a shelf life for the, value of data but. In my opinion I think you. Know the, shelf life should. Be determined by when, am I going to use it how am I going to use it and what value am I going to get from it but, if I think about the whole world of artificial intelligence if. That is the vehicle of the future then. Data is its fuel, right. And. More. Data is always going to be better because more data is going to give us more accurate results, gonna give us better data, in order to make better decisions etc so. Data. Pollution, to them absolutely. But but just you think about artificial intelligence so, the whole idea is to continuously. Learn to get better and having, some data that's not accurate and may not be fresh it may not be perfect, is a, good way for this engine to keep learning and keep getting better so. More, data in this economy, and the digital economy is, better if, you're gonna use those kinds of technologies so, you, know I'm gonna say yes. A shelf life is only based on how quickly am I gonna use it but many organizations will. Collect the data and keep it because they don't know yet how they might use it but they want to have it for just in case and, that's just a reality that's how we create business new business model that fuels, innovation. Yeah I mean definitely there's innovation and I think when they hold the data when. They don't really need it it, puts a headache on the organizations to protect the data right and then they kind of come back and the, penalties, are heavy for losing data these days so I think we ought to be able to think through that as well right so so. I think I've been getting every organization, to think about what are those data streams and and what, should be their self life and when do they dispose off and if there's any opportunities. To create inferences. Or or, insights based on that to be able to take it to you, know you know adjacent, products and services, one. Thing I would say on that a technique, that would be helpful is keep, the data but at least anonymize. The ownership, right, so my grocery, buying habits only valuable to me or to my grocery store today, this week this month maybe this year but. You, know in my family situation changes. Or my age advances. Etc, that may not be valuable, anymore so just take my name away from the data and then you can keep the data because there's still value in the data and that's what you'll use to innovate, but, you don't have to be innovating for me because it's not a personalized, experience. The. The the selling experience is a personalized, one and they want to target me but, you know when, my circumstances. Change you no longer want to target me for the same purpose but having the data might be valuable, just take, away the identity, information I.
Think, There's still businesses. That, just keep data to keep data regardless. Of what the regulatory compliance, is and they just keep saying storage, is cheap, we'll keep the data and, so they're not actually, practicing. What we typically preach which is to get rid of the data when it's when. It's beyond, its shelf life and, then do it in a you, know safe manner once that's acceptable yeah I mean I think I think every organization should challenge that piece of that right I think it's, a good idea right maybe, it's a spring cleaning like, we call it like you know go back and do it every year right so don't. Sell it on a garage sale because that'll come and bite you but, somebody. You do can do cleaning cleaning is okay not selling right so good, deal all right you know I think we have a few more minutes right so I do want to kind. Of get your comments, as closing comments, and wrap things up and then have open it up for a quickie when a so. Any. Closing thoughts on, data, is the new currency how. Do we make sure nobody's picking your pocket, I think, one of the best things that we that we talked about and, maybe you can expand on this was that you were seeing it in terms of it being transactional. And. So I think that that's what I think, I agree with you on that and I, think that it would be great, if you could convey that, okay. So, you know as we were discussing this one thought I had is you know this vision rights way way into the future then this strategy, that's a few steps, into, the future and then, there's the current state that we have my, vision, is that this should just become a marketplace, as a consumer. I want, to own my data, and I want to put a value on it and I want companies, to come and offer me the, amount of money that I'll, be willing to take in return for my data I want to be able to sell. Them the data I want to be able to lease it to them I want to be able to rent it to them I want to be able to lend it to them or, maybe donate. It to them but, I think that this should become a, data. Marketplace, where, we as consumers and, owner data should put a value on it we should decide what, do we want to opt-out of those situations or, do we want to engage, in those kinds of transactions. Because, you know long term I think that's, where this is gonna go because the way we're actually going with global regulation, around data protection and data privacy it. May not be sustainable, and more important, it may not be affordable, so companies. Are gonna have to decide how much are they willing to pay for this information and. Consumers. Giving. Me, the right to then opt out of these transactions. If I choose so. That I don't participate, in those kinds of marketplaces. You know that's the long term but the practical, reality is we are where we are we have regulations, showing up every day and we have to we, have to respond, so you know I think as a call to action I would say for anyone who has you. Know lobbyists. Do. Do the, legislators.
A Favor and educate, them about the fact that what, some people it's just like that that person, with the photographic, memory what's on paper isn't always gonna translate, into the protection we expect, so, we have to start getting more practical, and more real about what, is attainable, yeah I mean I you, know you know kind of continuing on that I think I think technology is there for us to be able to do that right blockchain, and split ledger and public ledger capabilities. Are definitely. Kind of pushing envelope, in terms of you know helping you, know kind of create that nuggets of data protected, data in its native form and ability. To share and only, give access to reasons. When there is needed by whoever's needed, and then revoke it when you don't need to right so I think I think technology is getting there I think also, adding. On to it I would say you. Ought to be able to go back and think about as, three simple questions to understand, how. Valuable this currency is in your organization, right like you know is there any regulatory, implications if, something were to happen to that currency right, or, is, there any business or monetization, opportunities. That your companies could have from these currencies, right and then, how valuable, is this thing not just to you but to somebody else right. So I think those three elements will help you generate. Some kind of a value system to be able to say you. Know how do you want to do what you want to do from a protection, and then prevention so that nobody's picking your pocket right so I want. To make one more comment about the picking your pocket piece I think it's not just about who's, coming to steal your data and that drastic, data breach kind of conversational. Who speak in your pocket I think is a people. Taking away your market, share and your your market advantage. Because. They. Have access to the data that you don't have or they have insights. From. Your data that you are not actually leveraging, yeah you're, you're somebody else is generating value out of you and you're not getting a you you you're not in the benefits you know line right so good, thank you that I want to thank the panels for powerful, panelists, for sharing their thoughts at, this time I'd like to open it up I think we have a few more minutes for Q&A I'd love to have an open dialogue here in this conversation as well anybody who's got any questions or discussions, or meant to make a point will, be an awesome time to do so. And. There is a microphone in the middle of the room so if you guys can speak to it, definitely. We can hear it. The. The. Selling of your data the supermarket. I'm. Getting revenue stream content now and, if I stop that would. As. Far, as. Okay. So you as a consumer getting, something from it or you as the supermarket. And. That's, fine if, you're. No no if you're if you're perfectly, acceptable with that and you're willing to give up all of your habits, to them in return because they're giving you something in return they're not just saying hey I'm going, to use all of your data they're giving us something in return the same thing with permissions, every, time you download an app you. Have to make that decision of do, I want to give up this information but it's not always transparent, what, you're giving up and you may be giving it up now and that end user License, Agreement may, have a little tag on it that says hey you're, you're agreeing, that. We may collect more data in the future and by, signing this now by saying yes install, this I want to use this that. You've given them a blanket, license to collect whatever they want with any upgrade, because they add features, and maybe the next time instead of just collecting information about. Your device they're. Collecting, all of your contacts, and. They're taking all of your contacts, some, people don't want them having all of their contacts, maybe that's something that they don't want they make that decision I'm, not going to click install because that's not okay with me maybe I'm using a phone for business and for personal and I want to keep things segregated. I don't, think that it's always transparent. When the developers, are making this I think there's there's, kind of a drive right now amass. All of the data and there's a purpose for it with developing, artificial, intelligence, but. There's also this let's, just grab all of the data that we possibly can and we don't have a purpose for it that's, where I think that there's an issue I mean I have. I do have a couple of clubs I'm not crazy about it but if it's an advantageous, to me and I think most people will do this, they'll.
Sign Up for it but there's other ones where I'm like now today's the day where I've just decided I have too many of them I'm getting too many emails, from them you, know saying, that they want to offer me this this it's the same thing every day and and, then I go through and I do a purge I mean, I think where we are is we can individualize. That today right it's not all or nothing or, not for all of the apps as, well as get you refreshing, the permissions, where you go to the doctor's office they need you to sign every year your privacy statement we got to get to that not once and forget it right so I think individually. I think both from an individual perspective as well as organization perspective we, can enable certain. Technologies. In terms of you know getting that access right, for so that the value is on both sides I. Got. A couple comments and. One. Of them is I think you're absolutely right I mean we give up our we, said we agree to the terms T's and C's without even looking at it yeah I want to get your thought on today. We have three. Companies Equifax. TransUnion. Gelling. Experience. Our. Credit. Score right, perhaps. For. An individual, to be able to control all the T's and C's and, remember, to continually, check those and know. What those say it's just it's, just not possible, it's it's not it's not reasonable so, maybe, there's an opportunity for someone, like in Equifax, whoever to step in and manage my, permissions, for me to understand what those T's and C's so that I can say look. Yes. You can use my data and you can use it in a way you want me to but you're gonna have to go to them, to get it and they're gonna manage, and hold you accountable is Who I use, it so maybe like, your thoughts on that and the other thing was you, mentioned the new currency well a lot of times there's, counterfeits. And so what. Do we do to to, guarantee the authenticity, of, data so if I find out that there's value in certain, types of data then I'm gonna find out how to create that data real or not and sell, it so, that I can capture that very so where's, the organization, where is the effort to guarantee the authenticity of, not, just the production. Or the the creation. Of data but, through it through its entire use, until it's. Finally consumed yeah. I. Mean, I can I can start right I think I think I'll take the authenticity question, right I think that's a big question right now we're kind of talking abut right now we trust the source so, if somebody's give knew that information, and another, b2b. Or whoever's gonna give you that information you're, trusting the source basically and honestly challenging, it right I think we'll start to see that shifting, from, that to, be able to for you to be able to manage your data on some, kind of a public ledger which, is basically, what blockchain is trying to drive towards right but again we are all up to agree on standards and things like that to put it on right so I think we, don't have it yet analyst, right now you're only you, know trusting the source right you gave it or you didn't give it right or unless, I collected, it firsthand I can't trust it either right so, I think that's. The. Second, the first question that you had asked I think there are a lot of I don't, think there's any major, institutions, that are trying to do that but there are you, know the one that I came across was coming, called big token right which, is basically trying to collect your information and asking you who do you want me to give it to and how much you want to collect I mean there's a point system right whoever, I'm gonna give it to you you kind of collect points but I think that that's another area where I be your point I think it's it's, it's a brand new white space market, space right now but the, already companies popping up rights are trying to do that, and.
I Would I would say I, would argue with that model, because I would say that model already exists. Those, three organizations will. Share might they take they get my data I haven't, given him authority to. Have it I haven't given it towards you use it or to share it etc but they just do it right, so I've, never seen a business model that actually is that. Successful, with that much authority and power with absolutely, no consent, from the person who actually is is impacted. Right so, so, I would say they already doing that all. We now need to do is to formalize, how they're gonna pay for the privilege. So. See that's something we are the consent is through you. Getting into some kind of a financial institution, is that they do get the consent through indirect, consent from you for, you to be able for them be able to collect that information in. Direct yeah indirect, right and I don't know all the uses that they have for it until we pull a credit report and you look at it and you go well. This is not true or this is not act and then, you end up in a big battle with them to try to fix it and then goes back to the authenticity question. Right so what are you describing I think the technology exists. For us to create this this, you know ledger where, we can put the information and make sure that it is accurate, but, again, I think up, to now we have, taken away the decision-making from the consumer, and we've put all the burden of making sure the data is authentic, and correct, and accurate on the companies and we've, made them also responsible, for protecting and securing, it well, you, know somehow I think that balance of power needs to shift and change and get a little bit more fair we, as consumers are to read we need the, consent needs to be informed consent, we cannot just consent, we. Have to make sure that we educated, about what we consenting, to and then, on the company side you know when they make a deal with me just like any other contract if, they're making a contract, with me they should follow their the terms of their contract or they should be penalties and until. We have to, party kind of transactions. We're not gonna be able to have that. And. Then there's also the issue of oversight, with all of that so. Then, you have gdpr and you have California. And then you have a bunch of other states that are all developing, their own individual. Privacy, acts that are going to govern some of this or in future, in the future to you know develop. And deliver more, regulations. And. Business. Is going to want to be part of that conversation otherwise. It's going to be third going to find I think find it's going to be very difficult because. Can be created by people who aren't familiar with the technology though know by doing interesting, times so I think one more question here yeah. Thank. You for your presentation. I admire, the expertise. And really experience, dealing. With data so. Imagine the new company, wants to set up the. Right approach to handling their data can. You offer one to one or two thoughts about a data, strategy that don't forget type. Thing you know one of the priorities, that you would. Advise. As it relates to a data strategy as, we've now reached. The point of. Saturation. On data, yeah. So forth just some advice, well. It's time I start, with identify, and tag your data make. Sure that you understand, the activity, around the data who's touching it who's deleting, it who's doing what to it who's changing it etc so, understand the activity, and then, you know have a practical. Data strategy approach because. Sometimes. We make it impossible to protect the data when we go out and we say well your IP address is personal information all of a sudden that just creates, you know its own set of voluminous.
Challenges. So. You've identified the, data and I'm going to say that you need to make sure on the other side that when you're done with it you're done with it and. That you have that exit strategy, for the data and that you build that in as part. Of your strategy when you are deciding, what to collect, how. You're going to store it how long you're going to store it you're looking at that total cost of ownership of the data, and. I would say from United States start with the value so what does what what is the value looks like for you from the data perspective, right so data evaluation, is going to be very essential both, from a raw data perspective as well as the insights that you can garner, from various, pieces of data that you're gonna either, create, Seoul's partner, with right so for that perspective. It's. Going to be very essential for you to be able to understand how you're gonna protect it how you're gonna use it where you're gonna move it so. All. Right, I. Think, we're about time so so. Thank you appreciate your time and listening in today as well so hopefully you guys will have a restaurant for good session, I think there's a big keynote coming up later in the day and everybody's looking forward to it as well so, thank you. Thanks. For watching for, more videos from AT&T business, click, Subscribe.