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Converting data into value, securely and ethically, is the business imperative for the next decade. The companies that most effectively take charge of their data life cycle will have the greatest opportunities for success. Increasing sophistication of data valuation models will help CFOs better understand how much of their revenue depends on data sourced through third parties. Better understanding of the revenue and risk of data-value chains will spur companies to race to acquire or partner with the best-valued information assets.
Nearly 75% of IT leaders in the US and the UK now rely heavily on data for business decisions, according to one survey. As data value rises, it will increasingly be targeted through corporate espionage and state-sponsored cyberattacks. Nation-states have been particularly aggressive in seeking to steal data related to the research and development, manufacture and distribution of vaccines against SARS-CoV-2. The rise of disinformation attacks will place a premium on data integrity and identity authentication. Increasing deployment of artificial intelligence, robotics and other technologies will create new data ethics risks, including those related to privacy, manipulation and bias.
"Data is now seen as a new trading currency within the African continent, causing most countries to adopt data-privacy regulations to protect it."
Valuations will rise for companies that create the most unique and sought-after data, business intelligence and responsible data-generating technologies. These companies will become targets for acquisition or partnerships. Acquirers that become adept at due diligence assessments of these companies’ value and risk are most likely to land affordable financial arrangements and gain first-mover competitive advantage.
“In this new chapter of our history in Eastern Europe, trusted data has become more than the new oil or new currency — it’s the essential core competence.”