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The Personal Information Economy – Making It Happen

Posted on: Monday 3rd of October 2016

On Thursday 29 September delegates from over 400 big businesses, entrepreneurs and innovators, investors, policy makers and regulators gathered for Ctrl-Shift’s 2016 Personal Information Economy conference on Achieving Growth Through Trust.

Elizabeth Denham, the UK’s new Information Commissioner, summed up the conference theme perfectly when she said: “It’s not privacy or innovation – it’s privacy and innovation. The personal information economy can be a win win situation for everyone. Get it right, and consumers and business benefits.“We have seen examples today of the potential power of ‘Me2B’ putting individuals in control of their information, we have heard about concepts of ‘self sovereign identity’, with individuals in control of a single identity verification tool,” she continued. “But however wide the range of possibilities there is a single common inescapable factor. Consumer trust is essential to achieving growth.”

Dozens of speakers explored this core theme from multiple different angles: from big established businesses wrestling with far-reaching changes to their core business models, to new Personal Information Management Services (PIMS) with case studies on what they are doing to transform the landscape; from seizing the commercial potential through divining what’s needed to build consumer trust around information and data through to the crying need for new enabling infrastructure that empowers individuals with their data.

Making it happen

Ctrl-Shift’s Personal Information Economy conferences are becoming a place where things happen. The conference was the occasion of the new Information Commissioner’s first speech in the UK. The Competition and Markets Authority announced its review of the market for digital comparison tools on the day of the event, which also saw the launch of the Sovrin Foundation, a non-profit body dedicated to providing every individual with a ‘self-sovereign identity’ that is 100% owned by the individual. Then there was the launch of MyWave Myai, a revolutionary approach to artificial intelligence that puts the data generated by virtual personal assistants under their users’ control.

 
Tracking the market

To make well-informed decisions about this fast-changing markets, big businesses, entrepreneurs, investors and policy makers alike need a yardstick to judge consumers’ and citizens’ mood and behaviour, including their take up of PIMS. To support this, Ctrl-Shift announced it was launching the Me2B Tracker. Current research into the personal data landscape is flawed in many ways. There is no consistency with multiple different bodies all asking different questions. There are no robust yardsticks against which to measure the pace or direction of change. There is no way insightful way to track not only what consumers are saying but also what they are doing.

The Me2B Tracker will address these flaws to provide a solid foundation for decision-making. Watch this space.