The article predicts that data privacy will evolve into data ownership rights by 2024, with citizens worldwide owning and controlling their personal data. It mentions Apple CEO Tim Cook's call for reforms to protect and empower consumers and the emergence of more data-privacy regulations. The article also discusses the idea of a "new data dividend" that would allow citizens to gain value or monetary compensation for their data.
Key takeaways:
- The next tech megacycle is expected to be driven by data ownership rights, with everyday citizens owning and controlling their personal data.
- Big Tech companies, finance, and government convergence has enabled a new data economy, with data being the 'oil' that fuels AI.
- Unrestricted use of personal data is ending, leading to a new data-sharing system that could benefit every person who participates in it.
- Apple CEO Tim Cook's 2019 call for reforms to protect and empower consumers sparked a cultural and legislative shift away from unrestrained access and harvesting of personal data.