Data ethics in business
The boom of big data management and analytical data simulations has served businesses well, but the data ethics in business and privacy aspects of such work are still in question.
After Apple CEO Tim Cook described the misuse of data as a “weaponised” act, calls for US-wide data protection regulations have grown louder.
These calls come after the introduction of the European Union’s General Data Protection Regulation (GDPR) with the US wanting similar regulations, as the GDPR has had a positive worldwide impact.
Organisations must now look at their data through an ethical lens, making sure that all guidelines are followed, and understand the ethical responsibilities of managing such large streams of data. With the unethical use of data creating a lack of public trust, it’s important for you and your business to understand how to make your data processes ethical.
Will data ethics and regulation drive innovation in AI?
Does the GDPR affect you and your business?
Although it’s an action by the European Union, the GDPR does have wide reaching effects for business owners. Coming into force on 25 May in 2018, the GDPR applies to businesses that were:
• Established in the EU.
• Not established in the EU, but which offer goods or services to EU-based individuals, free or paid, including payment accepted in Euros.
• Not established in the EU, but which still monitor the behaviour of EU residents.
Companies with an emphasis towards an online presence are likely to track behaviour patterns and customer data from those in the EU. As a result, it’s important to know that such businesses can fall under the umbrella of the GDPR if they:
• Ship products to an individual based in the EU.
• Sell a device that monitors an individual’s behaviour in the EU (e.g. health tracking device).
• Deal with personal information of someone in the EU.
The balancing act of data mining ethics: the challenges of ethical data mining
Data handling ethics are a legal, political, and financial minefield. The balancing act between transparent and unethical data mining practices is providing a consistent challenge for modern enterprises. Read here
How can you find out more about the GDPR (and the ethical way to use data for your business)?
With large companies like Mastercard utilising data management for philanthropic purposes, it’s important to remember that data analytics does not have to be seen as an unethical process. Your business should focus on being transparent and sticking to the procedures enforced.
Keen to find out more about helping your business see if the data they have is being utilised in an ethical way? The University of New South Wales (UNSW) Master of Data Science could help your business gain an edge. Data and Ethics is just one of 12 courses available — in the 100% online degree, to be undertaken over two years. This Master degree can prove you with data skills, regardless of your field of work.