AI, IoT, Big Data

Combining AI, IoT and Big Data: Can Regulation Cope?

In last week’s vlog we delved into the regulation of AI, IoT and Big Data when used together.

AI, IoT and Big Data—these technologies and digital concepts undoubtedly play a major role in today’s highly connected era. As they are now; and continue to become more and more; integral in our day to day lives, several regulatory measures—including the GDPR and DPA 2018—have been implemented in order to protect individuals’ personal data, privacy and associated rights. But how should they be regulated when they all work together?

First of all we need to understand what each of these concepts means:

Artificial Intelligence (AI): John McCarthy, who coined the term in 1956, defined it as “the science and engineering of making intelligent machines.” A more modern definition explains AI as “the simulation of human intelligence processes by machines, especially computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using rules to reach approximate or definite conclusions) and self-correction”.

Internet of Things (IoT): IoT is understood as “a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction”.

Big Data: a popular definition of Dig Data, provided by the Gartner IT glossary, is “…high-volume, high-velocity and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.”

As you can see, all of them involve data processing, so it is clear that all of them should comply with the GDPR when the information affected is personal data or with the Free Flow of non-Personal Data Regulation when it doesn’t. But are there any other mandatory requirements laid by Law apart from the data protection and privacy ones that they should meet? Actually there are, but the challenge is that each of them has different features and needs.

For example, AI raises many ethics concerns, as discussed in some of our previous videos and IoT is dependent on 5G and Telecoms Regulation, while Big Data may tackle challenges from both AI and IoT.

That said, how can regulation cope all these technologies when they apply together, e.g. in a project?

We suggest different scenarios about how this could be addressed:

o Impose an obligation to businesses, universities, public bodies, etc. to count with a legal ITC professional in the team before carrying out any project that involve the use of AI, IoT, Big Data or similar technologies. A specific certificate for these professionals might be issued by accreditation bodies.
o Tech-specific Regulation and Legislation that put together most of the ITC risks and challenges with mandatory minimum requirements on how they should be applied.
o Independent Legal Tech EU Body which launches guidance and code of conducts about the main ITC issues and challenges.

Even though regulation and codes of conduct may help to unify standards, due diligence and commitment from the managers and the team involved in a project are still essential and key to ensure appropriate safeguards regardless of the specific externally-imposed requirements.

 

If you need advice on your AI product, Aphaia offers both AI ethicsand Data Protection Impact Assessments.

 

 

GDPR Big Data Singapore

Aphaia media partner for Monetising Big Data in Telecoms World Summit 2018

Aphaia is media partner for Symphony Global Monetising Big Data in Telecoms World Summit 2018 that will take place in Singapore on 23-24 April, with a focus on machine learning data integration. Aphaia’s message: don’t forget GDPR !

This year’s Monetising Big Data in Telecoms World Summit will encompass the following topics:

  • Generating New Revenue Streams through Your Effective Big Data Strategy
  • Successful Digital Transformation through Effective Big Data Strategy
  • Creating a Sustainable Analytics Culture
  • Compatibility of Legacy Systems with a Real-Time Analytics Approach
  • Efficient Data Governance with Machine Learning Data Integration
  • Maximising Business Value through Effective Big Data Strategy
  • Leveraging Marketing Science to Gain Competitive Advantage
  • Generating New Revenue Streams & Identifying Revenue Risk with Data Analytics

Aphaia’s focus is as always on data protection and privacy in telecoms, Big Data and IoT. In particular, for companies doing business with Europe, there will be a need to comply with the new General Data Protection Regulation ( GDPR ) from 25th May 2018. So monetising Big Data in relation to EU markets will come at the price of compliance, an issue businesses will have to account for.

For more details and registration, please contact Phyllis Goh of Symphony Global . You can learn how Aphaia can help you comply with privacy and data protection laws and best practices by exploring our Data Protection Officer product.

big data analytics financial services singapore

Big Data Analytics Financial Services Singapore World Summit

Aphaia is proud to be media partner for Big Data Analytics & Effective CEM Strategy in Financial Services World Summit 2017 to take place 26-27 October 2017 in Singapore.

big data analytics financial services singapore

Big Data Analytics Financial Services Singapore World Summit 2017 draws together highly-regarded expert speakers from across the ecosystem of financial services industry and big data analytics solution providers to present the latest key trends and development in big data analytics and effective CEM strategy. The highlights of the summit will be perspectives and case studies to be shared by senior professionals from financial services companies on their experience in implementing big data analytics and CEM strategy in their businesses.

Symphony Global’s Big Data Analytics Financial Services Singapore World Summit 2017 will focus on increasing ROI through developing an effective Big Data & CEM Strategy for financial services, which encompasses:

  • Data Driven Business Transformation
  • Enhancing Your Customers’ Experience through Big Data Analytics
  • Data Analytics in the IoT Ecosystem
  • Accelerating Innovation with Artificial Intelligence
  • Leveraging Big Data Technologies to Achieve Business Growth
  • Digitising Customer Support with Machine Learning
  • Regulatory Risk and Remaining Compliant
  • Turning Data into Actionable Customer Insights.

Big Data Analytics Financial Services Singapore World Summit 2017 will feature the following topics:

  • Harnessing the Power of Data Analytics in Financial Institutions to Achieve
  • Competitive Advantage in the Digital Economy
  • Becoming A Data Empowered Business
  • Business Transformation through Big Data Technologies
  • Optimizing the Customer Experience in the Digital Age
  • Enhancing Your Customers’ Experience through Big Data Analytics
  • Leverage Cloud, IoT & Big Data to Your Advantage
  • The Art of Making Big Data Relevant to Your Business
  • Understanding the Limitless Opportunities for Big Data to Improve Business Processes
  • Banker/Insurer’s Perspective – Staying Connected with Your Customers through Data
  • Banker/Insurer’s Perspective – Loyalty and Retention through Customer Analytics
  • Building Long Term Growth in Customer Engagement
  • Banker/Insurer’s Perspective – Unlocking As Much Information As Possible through Your Big Data whilst Ensuring Customer Privacy
  • How can you harness your Big Data to help make big decisions that result in big rewards?
  • Exploring how to use your Big Data effectively can improve your key decision-making process
  • Understanding the different stages of data-processing and types of output created
    Data Driven Business Transformation
  • Insurer’s Keynote Address – Accelerating Innovation with Artificial Intelligence
  • Banker/Insurer’s Keynote Address – Leveraging Big Data Technologies to Achieve Business Growth
  • Driving Your Business Strategies through An Effective Big Data Plan
  • Banker/Insurer’s Perspective – Broadening and Democratising the Use of Big Data across the Business to Achieve and Prove ROI Quickly
  • Monetizing Hybrid Data in Real-World Examples
  • Digitizing Customer Support with Machine Learning
  • Machine Learning: Delivering Accurate, Actionable, Predictive Information
  • Insurer’s Perspective – Data to Insight to Action- Driving Exceptional Customer Experience at A Global B2B Firm
  • Banker/Insurer’s Perspective – How Do We Build Financial Reporting Using Big Data Technologies?
  • Leveraging on Third Party Data as A Strategic Tool to Drive New Business and Sales Development
  • Banker/Insurer’s Perspective – Impact of Advanced Analytics on the Overall Banking Architecture
  • Banker/Insurer’s Perspective – Regulatory Risk and Remaining Compliant
  • Turning Data into Actionable Customer Insights
  • Designing your data roadmap: Deciding what to capture and how to capture it for greater customer insights
  • How can you leverage customer insights to differentiate service, empower front-line staff and create emotional royalty?
  • Measuring and evaluating the ROI of your data analytics program

For more information, please visit event website or contact Phyllis Goh of Symphony Global: phyllis.goh@symphonyglobal.com When doing Big Data Analytics in Financial Services and trading with the EU, Aphaia urges you not to forget to comply with the new EU GDPR privacy rules: use our Data Protection Officer outsourcing and GDPR adaptation services.