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Wolfson-HAT Symposium Week 2: Personal Data, Industry and Markets

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Covering areas such as personal data as a commodity that fuels $31b of the advertising economy, exchange mechanisms, transactions, industry practices, monetization, dataification, digitization.

This session will be chaired by Professor Irene Ng.

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Will a primary personal data market eliminate the secondary personal data black market? An Ad economy of US$31b is able to spur growth on the Internet to the extent that it can finance fake news. Personal data is one of the world’s more precious commodities and it is now traded in illegal markets where companies buy them to string the data together, identify individuals and use the data to target them for advertising. The effectiveness such targeting is increasing because the supply of personal data is increasing through more Internet and Internet of Things services. Will creating a primary data market cannibalise the secondary market? I will present the HAT DeX initiative to allow companies to issue private data accounts to users that allow them to control and exchange their own data directly and also use them to integrate with existing internet services. Irene is a Professor of Marketing and Service Systems and the Director of the International Institute for Product and Service Innovation at WMG , University of Warwick. She is also a Senior Member at Wolfson College, Cambridge. Irene was an entrepreneur and practitioner for 16 years before switching to an academic career. During her time in industry she occupied a number of senior positions in industry rising to become CEO of SA Tours and Travel group of companies (Singapore, Malaysia, China and UK) and founded Empress Cruise Lines, a company with an annual turnover of USD250m which she sold in 1996. An industrial economist through her doctoral training, Irene’s research lies in the trans-disciplinary understanding of value and the design of markets and economic/business models. She is the recipient of several ESRC fellowship appointments, including being one of the 6 UK Advanced Institute of Management (AIM) research Services Fellows, the ESRC /NIHR Placement Fellow and more recently, one of the five ESRC /InnovateUK Innovation Caucus Thought leaders. Both an entrepreneur and an academic, Irene is passionate about the link between practice and research. She is an advisor to startups on new financial models in digital businesses.

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