The White House recently released a report about the danger of big data in our lives. Its main focus was the same old topic of how it can hurt customer privacy.
The Federal Trade Commission and National Telecommunications and Information Administration have also expressed concerns about consumer privacy, as have PwC and the Wall Street Journal. However, big data holds many other risks. Chief among these, in my mind, is the threat to free market competition. Today, we see companies building their IP not solely on technology, but rather on proprietary data and its derivatives. As ever-increasing amounts of data are collected by businesses, new opportunities arise to build new markets and products based on this data.
Author: Kira Radinsky