Access to data in a trusted ecosystem can be instrumental in creating value and promote equitable access to digital and data economy. Examine (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 3 years
KEY POINTS
· India has the third largest start-up ecosystem in the world. Many of these start-ups, especially in agriculture, health, logistics and education require complete, accurate, usable and validated datasets.
· For an efficient data economy, it is imperative that data consumers can interact with one/multiple data fiduciaries through a platform.
· It is estimated that by 2025, data and AI could add up to $500 billion to India’s GDP. With so much data being generated, even if a part of this data is exchanged between public-private sector in a trusted ecosystem.
· Made practicable through a consent manager, namely, e-Sahamathi, it allows a citizen to provide her consent to interested third party private service providers to use her data for specified purpose.
· Through an open API, the third party can access the data of only that citizen who has explicitly consented. This ensures that the citizen always remains in control of her personal data.
· A third-party service provider desirous of accessing personal data is required to submit an application with the list of partners with whom the service provider will be sharing data.
· Data is an inexhaustible and limitless resource. With fourth industrial revolution technologies, data can be used, re-used and re-purposed with infinite possibilities.
