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World Economic Forum: consumer trust and a $10trn opportunity

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The World Economic Forum is very optimistic about the potential of digital technologies to supercharge the global economy. But it says trust issues could hold this revolution back. Its new research paper dives into the topic.

In the 20th century the global economy was supercharged by the arrival of choice. Commodities turned into brands. Product differentiation exploded.

In the 21st century, digital technologies will drive the next wave of growth. So says the World Economic Forum. It is, not surprisingly, very optimistic about this potential revolution.

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Is data an asset or a liability?

By | Featured Post, Opinion, Privacy | No Comments

Drawing on discussions from recent MEF Privacy events in London and Las Vegas, CEO Rimma Perelmuter explores the debate around how companies handle the safeguarding of consumer data and asks, in the context of increasingly stringent regulation relating to such data, if the burden of ownership could outweigh the potential advantages…

When the notion of ‘big data’ first emerged around a decade ago, this question was never really asked. For the first time, companies had the ability to gather metrics about customers on a huge scale, analyse them and use the results to make products and services better.

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Consumer trust and the IoT: can a lamp be trusted with your data?

By | Featured Post, Privacy | One Comment

What happens when connectivity extends to light fittings, alarm systems and cars? The IoT could see billions of devices gathering data about people. A panel of experts discussed the issue at the MEF’s Consumer Trust Summit last December…

At present, issues of privacy, trust and security centre mostly around PCs and phones. They’re the devices that ask consumers for their data, connect that data to the cloud and demand that third parties house and protect that data.

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Fitbug : GDPR and keeping the future of privacy healthy

By | Featured Post, Guest blog, Opinion, Privacy, Regulation | No Comments

At MEF’s Consumer Trust Summit in London much of the discussion focussed on the forthcoming General Data Protection Regulation (GDPR) which is set to change the rules around how personal data is collected and used. Anna Gudmundson, CEO of Fitbug and Consumer Trust Summit panelist, shares her thoughts on how the regulation will impact the health sector and how data-centric companies may need to radically re-think their policies on personal data…

The Mobile Ecosystem Forum held its seventh Consumer Trust Summit in London last week. I had the privilege of joining representatives from companies from across the ecosystem to talk about the future of data, with a particular focus on the new data protection act rolling out across Europe in May 2018.

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Industry Views: regulation and the personal data economy

By | Featured Post, Industry Views, Personal Data Ecocnomy, Privacy, Regulation | No Comments

No one disputes the TV, PC, Internet and mobile changed consumer lives. Every year, analysts share their predictions for the “next 10 big things” set to disrupt our world – from AI and AR to driverless cars to blockchain. But what can now really achieve mass-adoption and change consumer lives?

In 2016 much attention has been given to the Personal Data Economy – from Governments and regulators, to enterprises and developers all see the potential and the benefits.

Here we’ve collected the thoughts of some of the MEF members that are active in the debate.

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If it ain’t broke, fix it

By | Featured Post, Privacy | No Comments

Tech hubs around the world share much in common. From Silicon Valley to Mumbai, Berlin to Lagos, you’ll find the same entrepreneurial spirit and can-do attitude. Their culture of Darwinian innovation takes few prisoners and has created problems with regulators and the consumers they serve. However, experts detect change in the air. MEF’s Simon Bates investigates.

The culture of Silicon Valley is often at odds with the principle of building trust. This was one of the key messages from a panel of experts at MEF’s recent Global Consumer Trust Summit. The reason behind the tech sector’s great success – a laser focus on innovation and disruption – can often upset the very people using its services.

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The monetisation muddle: six challenges facing data pioneers

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The rewards for those that harness the value of personal data are well documented. But, just as the 19th Century Gold Rush wrought disaster as well as triumph, success is not guaranteed. MEF’s year-on-year annual Consumer Trust Reports identify some of the obstacles facing modern day prospectors, as MEF CEO, Rimma Perelmuter explains.

Data is now the lifeblood of most mobile businesses. Growing exponentially in volume and richness, it may one day supplant oil and gas as the most lucrative resource for modern economies. From Menlo Park to Mumbai and Cambridge to Nairobi, a new generation of entrepreneurs and coders are inventing new models to harness its value.

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Understanding data protection: becoming a mobile privacy pro

By | Featured Post, Guest blog, Privacy | One Comment

With a broad raft of evolving legal requirements to meet, implementing practical steps for the handling of consumer’s personal data can seem a daunting prospect. Here, Emily Hancock, VP of Legal at MEF Member Evernote lays out an invaluable roadmap for how to tackle this business critical issue, and see you on your way to becoming a privacy pro.

Navigating the growing number of data protection laws can be pretty overwhelming. And the granddaddy of them all is Europe’s Global Data Protection Regulation. If you’re in the United States, a new set of criteria in the form of the Privacy Shield certification adds to the fun.

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Orwellian dystopia or evolutionary leap? The challenges of building trust in IoT

By | Featured Post, Opinion, Privacy | No Comments

The Internet of Things (IoT) always provokes strong reactions, especially when the prickly issue of trust rears its head. During MEF’s recent Global Consumer Trust Summit, a panel of industry experts engaged in a lively debate around the importance – and challenge – in building trust around a world of connected devices. MEF CEO Rimma Perelmuter picks out some of the key themes…

The benefits of IoT are well documented. Rapid developments in machine learning mean we can discern patterns and behaviours from the exabytes of data gathered by connected devices in order to add value to a wide range of enterprises, infrastructure and consumers.

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Data stewardship: Manage with care – don’t lose it, don’t abuse it

By | Featured Post, Opinion, Privacy | No Comments

Rethinking the way in which customer data gets managed is new a frontier for businesses immersed in the digital landscape. Notably, new regulations that affect any company who are holders of European customer data threaten non-compliant companies with fines up to 4% of global turnover. Here MEF CEO, Rimma Perelmuter reflects on the impact for the mobile industry.

As companies continue to collect more and more personal data from consumers and emerging technologies such as mobile health, financial services and IOT seek to access our most sensitive data, the potential risks in the form of cyber security breaches, mismanagement of data and changing attitudes of consumers cannot be underestimated.

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