In a world where every digital interaction is becoming a transaction, we at INNOPAY have experienced that governmental organisations, companies and individuals are exploring the opportunities and challenges of data sharing.
There are numerous opportunities for creating value from data sharing, such as by improving customer interaction through personalisation or optimising AI models by training them with a joint dataset from all competitors. These opportunities are multiplied by the emergence of new data sharing ecosystems, where multiple parties can share their data in a harmonised, privacy-friendly and cost-efficient way.
At the same time, there are several challenges related to ensuring mutual trust and privacy whilst sharing data. There are concerns about data sovereignty individuals, companies and countries or regions. As awareness of the value of data increases, people are demanding more control over their data from businesses and governmental organisations alike. And the growth in the use of third parties for data exchange and storage – such as non-European cloud services – means that nations and their citizens are becoming increasingly dependent on parties that do not necessarily share their interests or values.
New questions call for innovative answers
These opportunities and challenges raise new questions, such as: What should be our strategy on data sharing? How can we initiate and further stimulate data sharing? How can we create value from data sharing and share the benefits fairly among everyone involved? And how can we ensure privacy and control over personal data?
At INNOPAY, we help organisations by asking the right questions and formulating new and innovative answers. Examples of our support include the development of strategies and use cases for data sharing, advice on the use of new data sharing technologies (e.g. privacy-preserving techniques) and guidance in the collaborative development of data sharing ecosystems (e.g. for AI development).