How do you see the industry addressing and balancing the need for data access with privacy?

very bad

Industry giants are likely to invest heavily in privacy-enhancing technologies (PETs) like federated learning, homomorphic encryption, and differential privacy. These tools enable data insights without revealing the underlying individual data, allowing for secure collaboration and analysis.

Expect stricter data protection laws with clearer user rights and stricter penalties for breaches. Regulations like GDPR and CCPA will likely inspire similar frameworks globally, pushing companies towards responsible data use.

Empowering users will be key. Companies will focus on transparent data collection practices, granular consent options, and easy-to-use tools for data access, correction, and deletion. Personal data vaults and self-sovereign identity tools could emerge as user-centric data management solutions.

Blockchain's potential for decentralized, secure data management is intriguing.

User-centric data ownership models could redefine the landscape.

As AI algorithms become more sophisticated, the need for large datasets grows.

The concept of data trusts is gaining attention.

Algorithmic bias is a significant concern.

Consent fatigue is a real issue.

Data portability is a growing trend.

The ones who move $$$ (enterprise and corporates) do have access to many years of data -- but they're private themselves. So I don't expect any issue for them, just for the consumer who has no power over privacy...

Transparency reports are becoming common.

Personalized advertising relies heavily on user data.

Privacy-enhancing technologies (PETs) are diverse.

The industry is increasingly moving towards zero-trust security models.

There is a conflict here in the current situation. The company need data to provide the best user experience for the product to the customers. But the customers want to keep their data in secret and safe. However they require that the product must understand them and their behavior to serve well. So the company got stuck. Without user data insights, how can the product can understand users to provide best personalized services and products? So I suggest it should have the ability where user can decide to share/sell their data to product & service provider so that they can apply it to the product & services users are using. Their data, their choice.