How privacy by design and data governance can help derive greater value

In less than a generation, smart technology has become pervasive – they are everywhere you look and yet often hidden in plain sight.

Nearly anything digital, such as phones, tablets, computers, vehicles, drones, appliances, homes, and even buildings, can invariably be examples of smart technology. As we continue to adopt new technologies into our everyday lives, there is no doubt that an increasing amount of personal data will be generated, processed, and stored.

With the advent of 5G networks, the ubiquity of smart technology is set to skyrocket. By 2025, it is estimated that 80 per cent of the global population will be using smart devices.

According to reports, the number of connected devices will exceed 50 billion by 2022 and reach 80 billion by 2025.

For businesses, smart technology and connected devices can help create new products and services, thanks to the streams of personal data that are collected and processed.

As we surround ourselves, on our bodies and in the spaces we inhabit, with more devices armed with cameras, microphones, and other sensors, the Internet of Things (IoT) better connects and enables them to “talk” to one another and artificial intelligence analyses consumers’ behaviours, anticipates their needs and makes calculated recommendations for businesses to act on.

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Get smart, get more data

So why is smart technology so alluring to many of us around the world?

Convenience comes in the form of digital voice assistants, developed by the likes of Apple, Amazon and Microsoft, that can help one simplify home management, search the Internet or carry out tasks by simply vocalising commands.

These assistants also listen intently to learn users’ habits and preferences.

We get entertained by our smart TVs, use smart speakers to play music throughout our homes, set smart thermostats to control the temperature, have smart fridges and smart ovens that change how we buy, store, and cook food, and also use smartwatches to track our fitness goals.

Many of these devices, some through mobile application permissions, collect data about our habits, preferences, health, and activities.

The intent can appear well-meaning; a smart bed company in the United States tracks customers’ sleeping heart rates and breathing patterns to help flag sleep issues to improve sleep quality and promote good health and wellness.

However, as more and more personal data is being bandied about, the risk of data breaches, exposure of data and misuse of data is also increasing. In 2018, a Singapore-based smart scale and fitness wearable company was fined for unlawful data collection and processing.

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More data, more risk

According to Statista, global consumer IP traffic is expected to reach 333 exabytes (one exabyte is one million terabytes or one billion gigabytes) per month in 2022. And the European Commission’s European Data Strategy projects global data volume to grow to 175 zettabytes (one zettabyte is 1,000 exabytes) by 2025.

This exponential growth in data generation and storage creates new challenges for companies that want to leverage smart technology while ensuring privacy and security.

Companies need to ensure that their data is secure and private and that they can access all the data they need to provide a better experience to customers.

According to anti-virus and computer security service provider Kaspersky, IoT cyberattacks more than doubled year-on-year during the first half of 2021. Some 1.51 billion breaches of Internet of Things (IoT) devices occurred during that period, an increase from 639 million in 2020.

Kaspersky’s findings confirm that the pandemic has exacerbated IoT vulnerabilities. Many of these devices, whether intended for enterprise or personal use, lack adequate security protocols, as they prolonged device usage in household settings due to lockdown, isolation and work-from-home scenarios.

One of the biggest known data breaches involving IoT occurred in 2019 when two billion logs that contained passwords and other personal data were exposed to the Internet by a Chinese firm that developed a smart home device management platform.

Find out how to spot and manage your intrusive mobile apps here.

Put privacy first

Privacy by design is a concept introduced by the European Union (EU) in 2014. The idea behind it is simple – if you build something, such as a mobile app or smart device, think about how it can affect everyone else.

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This article was originally published on 28 November 2022 on e27.co. To read the full article, click here.