Title: Crafting a Data Bill of Rights: Crucial Considerations for Businesses
In the final stretch of 2018, I found myself in Washington, D.C., chatting with Congress representatives about crafting an "Internet Bill of Rights." The most engaging conversation I had was with a rep tasked with these duties. I attempted to explain that the internet isn't merely a technology; it's an expanding realm. Think of it as outer space—technology like rockets allow us access, but the space itself exists regardless.
There were also requests for a "Digital Bill of Rights," but defining "digital" can prove tricky. It's more of a genre than a tangible asset. My mission was to enlighten them that the data we exchange in this digital realm is the actual currency. If we trace it back far enough, it's inexorably linked to personal data. However, these discussions about regulation were low priority at the time.
Presently, as AI and income inequality intertwine, I find elected officials more inclined to discuss the function of the "internet of value." I've just returned from Washington, D.C., where I discussed my new book, which asserts that data is labor. We also examined Europe's General Data Protection Regulation as a precedent for rights. Our collective aim was to explore "fair use" of personal data and the distribution of value in productivity.
The outcome of this dialogue was six rights I've dubbed the "Data Bill of Rights":
- The right to erasure, or the right to be forgotten.
- The right to portability, or the right to move data.
- The right to restrictive processing, or the right to halt activity.
- The right to redress, or the right to adequate compensation in legal disputes.
- The right to education, or the right to comprehend terms.
- The right to ownership, or the right to control the means of production.
Many politicians and business leaders still focus on data from a privacy perspective, while in actuality, most individuals acquiesce their data as an unaware property for convenience's sake. We only recognize the importance of privacy when damage is evident.
Business leaders must shift their attention from the privacy debate and consider how to allocate the value generated by data sharing. This is an opportunity to integrate people into the economy by linking their incomes to productivity growth. Instead of viewing wages as time retainers, we should pay productivity dividends (or "data dividends") for individual contributions.
The significance of this idea lies in Claude Shanon's 1948 paper, "A Mathematical Theory of Communication." He first estimated the entropy of information—specifically, the entropy of the English language. In simpler terms, a lack of predictability in data (entropy) offers insights into market demand, as the GDPR calls individuals who provide data. The predictability and value of this data significantly impact the creation of new products and services.
With the right to ownership, we may implement universal basic income based on the justification that it's an entitlement, not merely the right thing to do. We calculate productivity for every corporation and worldwide economies. This calculation could extend to municipal and non-profit organizations, ensuring that they're incorporated as well.
As a result, business leaders should:
- Create a stakeholder class to distribute productivity dividends.
- Join a stakeholder union to invest alongside peer companies.
Organized labor leaders can also take the following steps to become custodians of this enhanced labor:
- Negotiate income as a combined entity that includes both waged labor and data labor.
- Bargain for the representation of both employee labor and data subject labor.
Research billionaires like David Rubenstein, Paul Tudor Jones, II, and Ray Dalio issue a stern warning about unequal conversations on equity and distribution. If we don't adapt to this shift, we could find ourselves embroiled in a tense socio-economic state. Employees and consumers deserve to understand their value in the AI-driven world. AI, its progeny, and its returns must serve us.
And let's not forget: Our Website Business Council is the primary platform for business owners and leaders looking to grow and network. Do I qualify?
In the ongoing discussions about the role of data in the digital age, James Felton Keith, an expert in the field, was a key figure in my recent dialogue in Washington, D.C. He emphasized the importance of viewing data as labor and advocated for its equitable distribution.
furthermore, James Felton Keith's book served as a starting point for exploring the concept of "fair use" of personal data and the distribution of value in productivity within the context of the "internet of value."
