Trust is the new currency of the digital world
In many ways, Australia is at the forefront of how modern society interacts with new ways of sharing data. Open banking is coming soon, and as The Australian points out, with that new paradigm requires a new type of currency. (No, not Bitcoin). Trust, as it turns out, might very well be the currency for the 21st century.
The polls show Australians will indeed share their data, but only if they trust what it is, who’s using it, and how their information is handled.
“In our globally integrated instantaneous digital world, trust is the new currency. It must be a bottom line requirement for all CEOs. Put simply, it’s a hard-economic driver and not a soft value metric.”
Tech wants rules, but it wants to make them
Hmm. A bunch of companies including Google, Apple and AT&T fronted the Senate to talk about new privacy rules. They want them, they just want to be the ones making them. Not sure how that works, really. Europe’s GDPR is in the spotlight, and they’re all complaining it took ages to comply: Google reckons it took hundreds of years of human time. Seems…steep.
“I do think that there’s a concern that if you overlay a regulatory imperative…on every action you really risk breaking … innovative products and services that we know customers love,” said Amazon’s Andrew DeVore.”
Singapore health system attack due to…vacation?
Yeesh. Turns out that when SingHealth’s networks were attacked and some suspicious activity was detected, a key employee was on vacation. Not good. Plus, the organisation didn’t really do a lot to determine if the situation was serious. This was all revealed as part of a public hearing, which found the intrusions weren’t discovered for a week after they happened.
“The public hearing on Tuesday did not address who – if anyone at all – was appointed to cover Mr Tan’s duties when he went on leave. There are also no details given on whether his subordinates reported the suspicious network activities to other superiors during Mr Tan’s absence.”
Using data to save wasted food
A good example of how data can be used for more than just targeting people with ads: a group of food retailers and suppliers have signed up to a new initiative to track – and therefore crack down on – wasted food supplies. Tesco CEO Dave Lewis is behind the call, and it’s getting traction.
“Addressing the Champions 12.3 event today, Lewis will reveal that twenty-seven of the UK retailer’s largest own label suppliers as well as wholesaler Booker…have now committed to publish their food waste data for the first time.”
Google partners with Australia bank for data
As open data ramps up in Australia, Google has partnered with ANZ to get more insight from its treasure trove of information. But there’s another layer to this: it seems this is happening because the banks need extra muscle to actually get compliant by the government deadline. So, as much of a necessity as it is an opportunity.
“ANZ chief data officer Emma Gray said the government is asking a lot of the banks to have data-sharing systems in place within nine months, but “we are working really hard with all the relevant parties to comply within the timelines as best we can.”
Salesforce and AWS simplify data sharing
Well, they’re hoping to. At Dreamforce – the conference for all things Salesforce – the company paired up with Amazon for a new data integration service. With some AI thrown in there too. Fancy. The whole thing has come about because more customers are using Amazon to supercharge their CRM and quickly find insights for existing customers.
“AWS and Salesforce will deliver certain integrations and a highly secure trusted framework for connecting the Salesforce Platform with AWS PrivateLink and Amazon Connect.”
That’s our wrap for this week. Thanks for reading – we hope you found it entertaining and informational. We’d love to hear your thoughts on these articles and anything else data related! Email us anytime at email@example.com!
Until next week,
Team Data Republic