online lives are of commercial value to an array of organisations that use this insight for the targeting and personalisation of products, services and experiences.
This era of accumulation and commercialisation of user data through real-time monitoring has been coined "surveillance capitalism" and signifies a new economic system.
Artificial intelligence
A central pillar of the modern digital economy is our interaction with artificial intelligence (AI) and machine learning algorithms. We found that 47% of GenTech do not want AI technology to monitor their lifestyle, purchases and financial situation in order to recommend them particular things to buy.
In fact, only 29% see this as a positive intervention. Instead, they wish to maintain a sense of autonomy in their decision making and have the opportunity to freely explore new products, services and experiences.
As individuals living in the digital age, we constantly negotiate with technology to let go of or retain control. This pendulum-like effect reflects the ongoing battle between the human and technology.
My life, my data?
Our research also reveals that 54% of GenTech are very concerned about the access organisations have to their data, while only 19% were not worried. Despite the EU General Data Protection Regulation being introduced in May 2018, this is still a major concern—grounded in a belief that too much of their data is in the possession of a small group of global companies, including Google, Amazon and Facebook. Some 70% felt this way.
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