As the use of online platforms grows, there is an increasing amount of data from individuals being collected by companies, a process that is set to expand exponentially with advances in artificial intelligence and machine learning.
While it is argued that data-driven products and services ultimately benefit users because of better customization, many are not convinced that sharing their information is a good deal. A 2019 survey by Pew Research Center, for example, showed that 81 percent of U.S. adults believe that the potential risks they face because of data collection by companies outweigh the benefits. Sixty-two percent believe it is not possible to go through daily life without companies collecting data about them.
[This article has been reproduced with permission from Duke University's Fuqua School of Business. This piece originally appeared on Duke Fuqua Insights]