39.4 F
New York
Friday, April 23, 2021

-

Home Business & Finance You should own your DNA, according to the biodata bill of rights

You should own your DNA, according to the biodata bill of rights

Entities
Key Concepts

Summary (IA Generated)

In the next decade, businesses and governments will increasingly collect biological data, from facial recognition to DNA. Every time you command a smart speaker, have your face scanned, or track your health on any app, it’s all going into your biological data bank.Today, startups like Voicesense and Sonde Health can decode our voice to make predictions about anything from depression to defaulting on our mortgage. Meanwhile, in China, the government is collecting DNA and biometrics from all residents aged 12 to 65 in Xinjiang, a region home to 11 million Muslim Uighurs.Big tech is banking on our biology, too: According to CB Insights, genomics is the research/tech-giants-digital-healthcare-investments/” rel=”noopener noreferrer”>second most important investment category for the top tech companies, and Alibaba is boosting investments in Hong Kong’s biotech sector.Adding fuel to the fire, consumers are not only open to sharing their DNA, but are also willing to pay more for DNA-based products. In 2019, consumer interest in DNA testing doubled when compared to 2017, and consumers are willing to pay a premium of 20% or more for products and services based on DNA, according to research by Lifenome. While sales of DNA kits from 2017 to 2019 confirm this testing frenzy, there are also signs that consumers are slamming the breaks as privacy concerns become more prominent in the news cycle.Whether it’s our voice or our DNA, privacy matters because biodata reveals an essential, unchangeable part of who we are—and its unintended use or disclosure can expose individuals to discrimination, manipulation, and levels of surveillance that can threaten our democratic way of life.Together with our partners at the World Economic Forum, we convened an expert workgroup of academics, entrepreneurs, and professionals in genomics, health tech, policy, and data sciences to set the foundation for a biodata bill of rights that can protect people’s basic rights from companies and governments alike.The right to understand how your biodata is used, collected, and shared According to Statista, there are 3.25 billion digital voice assistants being used in devices around the world. […] But biodata raises the stakes significantly because while you can change a credit card number, you can’t change your DNA or voiceprint.To prepare for the widespread use of biodata in business, we must adopt and scale distributed data ownership platforms to make it possible for people to fully own their biodata, know and manage information requests, and monetize data exchanges when appropriate.The right to keep your biodata anonymous Anonymous data does not guarantee actual anonymity, but experts agree that new anonymization techniques and more rigorous testing can have a real impact in protecting privacy. […] It’s the difference between FitBit users investigating how to delete their data before Google takes charge, and Apple recruiting 400,000 research participants in under eight months.Securing consent and active participation via transparent methods like Apple’s new research-app/” rel=”noopener noreferrer”>research app shows how to establish an ongoing line of communication centered on the use and value of biodata.The market is ready—governments and corporations are notOur research shows that consumers are drawn to the promise of products, services, and experiences personalized to the extreme, resulting in a significant demand for products driven by biodata.


131FansLike
3FollowersFollow
16FollowersFollow