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GFSC head warns of loss of freedom from big data misuse

Business | Published:

MISUSE of big data could lead to the quiet return of a type of eugenics in the western world, the island’s top financial services regulator has warned.

William Mason. (Picture by Adrian Miller, 19629854)

William Mason used the platform as keynote speaker at Startup Guernsey’s first data conference to warn of the need to be careful about big data.

‘Data is, all too often, not used to serve the common good,’ he said, warning of a loss of individual freedoms as companies sought to exploit the commercial opportunities from data gathered – sometimes unwittingly – from individuals.

‘This exploitation of your data really does matter rather a lot.’

The use of data in the insurance industry for motor and health insurance was a matter of concern, he said.

Full story in today's Guernsey Press

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