How much is your personal information worth?

Have you ever had the feeling that the ads you see are a little too specific? Do you ever feel like your phone knows too much about you? Those feelings of being watched are due to a phenomenon called the Internet of Things (IoT). The IoT is a term used to describe the interconnectivity of all devices and platforms and the data that can be collected from them. These days, almost everyone is constantly connected to the internet and is sharing information and leaving digital footprints without even realising it. Because of the IoT, innovations are being developed that are making our lives easier by the day. Inventions like Google Home and Amazon’s Alexa are our own personal assistants that are ready to help whenever we need it. They can even turn on the heater at the temperature you want on command. The IoT allows businesses and consumers to be connected on a deeper level than ever before. Although these innovations are exciting, the issue of privacy is looming in user’s minds.

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In 2018, Facebook experienced a major political privacy scandal involving Cambridge Analytica. It was revealed that Cambridge Analytica harvested millions of Facebook user’s personal data from their Facebook profiles without their consent. This data was then manipulated and abused for political advertising purposes. The scandal was revealed to the public because of the emergence of a whistle-blower, an ex-Cambridge Analytica employee Christopher Wylie. After this scandal, Facebook received serious backlash and this then sparked a call for tighter regulation of user data and harvesting.

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User data that is gained from social networking sites, online shopping websites etc is very valuable and companies will pay a lot for it to gain further insights into their consumer’s behaviour. Eric Schmidt, the ex-CEO of Google stated that from “dawn of civilisation until 2003, humans created 5 exabytes of data and we are now creating that much data every two days.” Companies are trading and selling your personal data in order to make sure they know all of your needs before you do. They manipulate all of that data to use it strategically for marketing purposes.

So, how do you feel about your personal information being sold by the companies and brands you trusted with that information in the first place? Comment down below!