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Productivity benefits will trump Digital privacy

Ever since our data started appearing on the internet, whether generated by us or by others, we have all been increasingly concerned about our data privacy. Additionally, there are concerns that our financial details will be at risk, each time we transact from an internet site such as Amazon, Microsoft, Netflix. We support the view that in the battle of productivity versus privacy, the former will win and in the process, people will opt to share more information, as well as transact on the internet.

The reason is that we rely too much on the internet now. Any move back, will be regressive and not in continuation with the journey of human evolution. What matters for most people, including children, is ‘meaningful work and meaningful relationship’ as per famed investor, Ray Dalio. The internet is the sine qua non for learning, work and keeping in touch with friends and colleagues and is just too necessary in our human existence now. With further new applications coming up all the time, this human reliance on the internet will keep on growing. We will, of course, worry about the privacy of our data, but at the end of the day, expediency will trump our data fears.

What this does mean though is that we ought to have a deliberate strategy in managing our data on the net and keeping it levels where our privacy remains at acceptable levels. For instance, we may want to restrict our telephone numbers, our addresses, our children’s specific details such as their school appearing on the net for anyone to access. Undoubtedly, new apps and tools too will be available in the future which will secure our digital footprint somewhat more than now.

Where our skills are wanting, we may seek help from digital consultants who could evaluate our internet profile and detail critical risks to our private information.

Privacy vs Convenience

Governments around the world are now more proactive in the regulation of private data use. Stricter and more tight policies are coming up to safeguard interests, independence, and freedom of individuals. It is like giving a solution to a problem no one realizes they have. It will help individuals in the long run.

More firms are getting cybersecurity audits done to ensure protection against breaches and hacks and to improve their privacy stance. Also, more firms are disclosing data breaches to warn consumers of potential dangers. Consumers would be more open to trading privacy for convenience in the wake of better regulations and supporting policies.

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