Seven trends for 2024 –
#3 The big data theft

The green transition, the AI revolution, and the new geopolitics will soon affect almost every part of society, directly and indirectly. Nothing is obvious or simple anymore. So what can we then expect more concretely from 2024 and the years thereafter?

We have begun our journey through the seven trends that will affect us all in the coming years:

  1. Hyperpolarization
  2. The time of fear
  3. The big data theft
  4. With your fingers in the cookie jar
  5. Time to share fairly
  6. The call for myths, meaning and context
  7. Wonder – the new black

It is now time for the third trend. “The great data theft”. How will it affect us and is this a new phenomenon or is it just the same thing that we have experienced before in a different form?

At the end of the 15th century, Portugal and Spain divided the world between them, while England and Holland watched. Then followed centuries where private companies traveled the world and took whatever they came across, with the means they had at their disposal. Today the same thing happens, but it is not gold and gemstones that are at the center but data. Data to feed large language models with. The owners do everything to protect themselves. Lawsuits abound.

In a historical perspective, one can see how the power struggle over resources has been going on for centuries. From the European colonization of the world to today’s struggle for data, it is clear that there have always been struggles over assets and resources.

In today’s digital era, data is the most valuable asset. Big tech companies and data owners struggle to collect as much information as possible to feed their algorithms and language models. By having access to large amounts of data, companies can create better products and services, but at the same time, concerns about personal privacy and data protection increase.

China and the USA are the leading players in the battle for data. Both countries have invested heavily in artificial intelligence and technology, and are trying to become leaders in the field. The tech companies in these countries have enormous resources and benefit from the large amount of data they have access to.

At the same time, data owners are trying to defend their privacy and right to their own data. Lawsuits and legal proceedings are common when it comes to data breaches and violations of data protection regulations. The question of who actually owns data and what is allowed to be done with it is a hot topic of discussion.

In this battle for data, it is not only China, the USA, and the tech companies that are involved. Even artificial intelligence itself can become an actor in the struggle. With increased autonomy and self-learning, AI can make its own decisions and act in ways that are difficult for us to foresee.

The battle for data has only just begun, and the outcome is far from clear. It will be crucial for all sectors, including the gig economy and especially digital development in the future. It is important to balance benefits and integrity to create a sustainable and fair future for all.

We must also dare to ask the questions that need to be asked and not just accept that everything should go fast. Of course, there are gains to be made by being first, but when there are risks worth addressing, we all must take our responsibility so that AI becomes an asset and the risks do not become disastrous consequences.

If you want to understand more about AI and data, please listen to our podcast with Vanessa Eriksson, “Influencer of the Year”, Data & AI expert, and founder of “Girls in Tech Nordics”.

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BayInCo – Interim within finance, accounting & sustainability