MIT Technology Review: “Data in some form underpins almost every action or process in today’s modern world. Consider that even farming, the world’s oldest industry, is on the verge of a digital revolution, with AI, drones, sensors, and blockchain technology promising to boost efficiencies. The market value of an apple will increasingly reflect not only traditional farming inputs but also some value of modern data, such as weather patterns, soil acidity levels and agri-supply-chain information. By 2022 more than 60% of global GDP will be digitized, according to IDC.
Governments seeking to foster growth in their digital economies need to be more active in encouraging safe data sharing between organizations. Tolerating the sharing of data and stepping in only where security breaches occur is no longer enough. Sharing data across different organizations enables the whole ecosystem to grow and can be a unique source of competitive advantage. But businesses need guidelines and support in how to do this effectively.
This is how Singapore’s data-sharing worldview has evolved, according to Janil Puthucheary, senior minister of state for communications and information and transport, upon launching the city-state’s new Trusted Data Sharing Framework in June 2019.
The Framework, a product of consultations between Singapore’s Infocomm Media Development Authority (IMDA), its Personal Data Protection Commission (PDPC), and industry players, is intended to create a common data-sharing language for relevant stakeholders. Specifically, it addresses four common categories of concerns with data sharing: how to formulate an overall data-sharing strategy, legal and regulatory considerations, technical and organizational considerations, and the actual operationalizing of data sharing.
For instance, companies often have trouble assessing the value of their own data, a necessary first step before sharing should even be considered. The framework describes the three general approaches used: market-, cost-, and income-based. The legal and regulatory section details when businesses can, among other things, seek exemptions from Singapore’s Personal Data Protection Act.
The technical and organizational chapter includes details on governance, infrastructure security, and risk management. Finally, the section on operational aspects of data sharing includes guidelines for when it is appropriate to use shared data for a secondary purpose or not….(More)”.