March 29th, 2021 By Damian Ferrar
Note, this is the first of a series of three excerpts from our latest Jack X brand experience trends paper. Each of these excerpts will give you a brief overview of the the landscape shifts we are witnessing. To download the full paper, please fill out the form at the bottom of this page.
Living in an accelerating society means new technologies emerge and develop faster than we can ‘civilize’ them. We are constantly playing catchup: expectations are shifting, boundaries are constantly redrawn and personal privacy is a top concern. However, one thing is becoming clear: harnessing data is a human science. To overcome consumers’ deep skepticism towards data, and to reap its myriad of benefits, brands need to respect the new status quo and create experiences that are
transparent, impactful, and human. Be transparent and create a value exchange.
People are more concerned than ever about privacy and are seeking greater autonomy when it comes to managing their data. They’re willing to provide their data to enhance and personalize an experience – but only when the value exchange is transparent. In the future, the balance of power will tip further in favor of consumers, with new startups promoting the attractive idea that individuals can be the brokers of their information, selling it back to brands.
There are several organizations exploring this space, like Tim Berners-Lee. The inventor of the World Wide Web built a platform called Solid which give users the ability to easily manage which entities and apps can use their personal data. Another venture, Ocean Protocol, takes things a step further enabling users to sell their data directly to businesses all while monitoring their data security and hosting crypto wallets. In Australia, a system called Billy uses home sensors for their passive, digital monitoring system designed to help older people feel safe at home. Specific data is gathered by sensors for carers and loved ones, while maintaining privacy and dignity since the system does not include any cameras.
Given the use of data to help slow the spread of COVID-19, people are examining the benefits and pitfalls of data harvesting. The pandemic has made people more open to volunteering data if they believe it’s for a greater good.
Want to read the rest? Download our latest X paper titled Curated, below.