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Asia-Pacific Open to more Data-Driven Innovation than Western World

Asia-Pacific Open to more Data-Driven Innovation than Western World

A new study and confirmation by Google’s privacy chief confirms what many in the technical world already suspected:  Asia-Pacific countries continue to be more open to data-driven innovation than their western counterparts.

 

Citing the development of the Asia-Pacific region in recent years, Google’s global privacy security counsel stated that while companies continue to step up efforts to protect privacy online, they’re also open to see how the Internet can help with restructuring economies.  The open data market is worth approximately $3 trillion.  While that seems like a huge area for investment, the open data market still remains a very new market – proven by the fact that there remain only a small percentage of companies and investors who are aware of the economic possibilities.

 

Even China, who continues to deny their residents access to popular social media sites like Facebook and Twitter and continues to restrict other content, launched a campaign they call “internet plus”.  The goal is to get more traditional Chinese companies online.  Google says that such innovations can help to expand companies globally while giving smaller business an economic boost while China still retains its policy of restricting the content it finds undesirable.

 

Companies in sectors with high social impact – health, wellness, environmental, and agriculture, for instance – tend to adopt more open and data driven innovations.  The highest number of these types of companies is based in Latin American and Asia, followed closely by Indonesia, Malaysia and The Philippines.  While many agree that too many rules hamper innovation and the development of services, this is no more so evident than in Europe.  European countries continue to demand that Google and other Internet search engines remove irrelevant or outdated content from search results.  Many claim that the move could make it much easier for criminals or other citizens to hide past indiscretions.

 

Data and privacy are increasing concerns among the global community, especially with the recent cyber attacks and hacking breaches in recent years.  With every attack, there is more and more pressure for companies to deploy strategies and innovative technologies to protect client, consumer, and employee information from security breaches.  While it may seem counterintuitive that data-driven openness and innovation would assist in lowering these types of attacks, experts suggest that the economic possibilities of data-driven innovations far outweigh the concerns especially in emerging markets where governments struggle to make economic gains.

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