World in Transition

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The panel discussion about how our world changes through technology is led by Ludwig Siegele (The Economist) with Albert Wenger (Union Square Ventures), Zachary Bogue ( Data Collective) and Anthony Gooch (OECD). Albert kicks off by the questions about Privacy. Shall we live in a world in which everyone is scared about data or a world in which we can publish our data and retain the advancements of sharing data and maybe making our health system better. In the end we should be driven by protecting the people rather than the pure data. Currently by aggregating the data, privacy is indeed an issue because one is not able to anonymize it completely. The issue of privacy is the protection of personal data, but what are the dowsides of things getting known, e.g. sexual orientation. Why does it need to be private?

Anthony from the OECD continues with introducing a new criteria to measure people's lives: the OECD better life index which goes away from official data to personal data. The better life index is made by individuals themselves by making choices among 11 dimensions and decide how important each dimension is for them. Ben Bernanke alrady named it as the new relevant index. Interestingly in general life satisfaction scores number 1 and income comes at number 9 out of 11. The ranking varies among countries as in Japan security is named as number 1. Goverment data will be more accessible and visuable, more real time data about how economy works will be used allowing better forecasts. However, there must also be a discussion on how to anonymize these data.

2013 was the big hype year for big data but it is not a fad which will fade away. 90% of data was created in the past 2 years. The goal is to handle the massive amount of data and extract its value, Zachary concludes.

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