There was a time that oil companies ruled the globe, but “black gold” is no longer the world’s most valuable resource — it’s been surpassed by data.
The five most valuable companies in the world today — Apple, Amazon, Facebook, Microsoft and Google’s parent company Alphabet — have commodified data and taken over their respective sectors.
“Data is clearly the new oil,” says Jonathan Taplin, director emeritus of the USC Annenberg Innovation Lab and the author of Move Fast and Break Things: How Google, Facbook and Amazon Cornered Culture and Undermined Democracy.
But with that domination comes responsibility — and jurisdictions are struggling with how to contain, regulate and protect all those ones and zeros.
For instance, Google holds an 81 per cent share of search, according to data metrics site Net Market Share.
Read full story here: ‘Data Is The New Oil’: Your Personal Information Is Now The World’s Most Valuable Commodity – Technology & Science – CBC News
