PDEC - Personal Data Ecosystem Consortium. Who Cares about our Personal Data? Mapping Innovations and showing the way...

From IIW

Who Cares About Our Personal Data? Mapping Innovations and Showing the way…

Wednesday 4E

Convener: Kaliya Hamlin, LaVonne

Notes-taker(s): LaVonne

Tags for the session - technology discussed/ideas considered:

Discussion notes, key understandings, outstanding questions, observations, and, if appropriate to this discussion: action items, next steps:

Our goal was to generate discussion around mapping the personal data ecosystem. We were interested in learning about innovative projects, research, and businesses/startups addressing needs and/or filling in gaps in the ecosystem.

We opened the session asking people why they came

Digi.me talked about the Personal Data Economy and creating the "Internet of Me" - meaning anything where you are in the center. He also talked about engaging large consumer packaged goods companies.

Doc shared that he had 10 tera bites of data - that there was a use value to this that was greater than a sales value. Commentary was also made that the only people currently buying it were messing it up. Look what happened with Big Data? McKinsey and IBM sort of swooped in.

There are some really Big Rat Holes sucked into a vortex.

  • Big Verticals such as Quantified Self

What is the Distribution? How do we get mass adoption?

95% of businesses are SMES (small and medium sized enterprises)

Exponential Growth in Alternative that is the more about exploitation of Personal Data than enabling people to access value from their data. We need better ways of innovating around and deriving value from data (that honor the core principles of the personal data ecosystem).

Data ---> Info ---> Knowledge ---> Insight

Joe Andrieu raised the point that there is a big difference in the social contract between people/institutions and exchange value.

LaVonne outlined two matrices that innovators and entrepreneurs might use to understand where there are market opportunities. The first chart might be a starting point. It doesn't mean that someone innovating in an area where the issue is annoyance rather than financial pain but could be helpful in thinking about filling in the ecosystem overall. The second chart suggests you've identified which of the four quadrants in the first chart you're going to address. The second chart helps you figure out who your allies are and whether the timing is ripe to enter the market. Again, it doesn't mean you don't take action if urgency and strategic allies aren't available, just that it may be slower going and require more capital.

IIW21 W 4E 1.jpg IIW21 W 4E Who Cars about PD.jpg

Julian described how he identified target markets for Digi.me by presenting the future vision for how personal data works and paying attention to who sits up and listens. There has been a marked change - about who sits up and listens. They must also be ready to take action and the pitch has to be sufficiently about business issues if you're pitching a business-to-business solution (presumably as compared to consumer fairness issues).

Digi.me is working to find 4 big customers who each have millions of users. They have infrastructure that can connect a bunch of verticals with a Horizontal technology and strategy.

Innovation ---> Commercial Opportunity Julian suggests there are 500 Companies/startups currently in the Personal Data Space (cntrl-shft is on the list)

Ask companies about what they are doing - do a survey of them - What does they do? What are they targeting and why. Where is the thrust and how are they financing themselves and making money.

We talked about the telco difficulty in leveraging data. Kaliya highlighted the work of the Rethinking Personal Data Project and how it arose out of telco's trying to figure out how to "give people back their data" and then license from them to provide them value.

It was discussed how many are mentally locked-in. Julian talked about the card presentations he does http://www.digi.me/video

We discussed the differences between services and infrastructure.

We talked about cooperating together and working on something in common. Talking more. Luk highlighted that we needed to be thinking about pre-competitive Cooperation.

There was interest to start scheduling regional gatherings where innovators could get together to share experiences, learn more about markets and technologies, and help the ecosystem mature and thrive.