We are driven by hidden data
China gives us a glimpse in to where the world is going. Their big data analytics are more out there than most, but honestly, if we were honest with ourselves we know many companies the world over are already looking at our social as well as political and financial interactions.
At the end, this article brings up another intriguing idea. Insurance has been the primary way we hedge against the financial issues involved in disasters big and small. For over 100 years now most insurance has been a pooled risk type of product. It looked at others who were kind of like you. If you are a deep sea fisher you are lumped in with other deep sea fishermen. If you are a computer programmer you are lumped with them. Now, insurance companies can put trackers on your phone and on your car and look at your individual risk. They can look at all your digital footprint. In many cases they can even see your health information. In general, we can now have risk be not pooled, but a statistical indication of us as individuates. While for some this is good and it can be argued will push society to be better (as the Chinese are advocating) do we want governments to have that much insight in to us? Where does it end?
https://www.theguardian.com/commentisfree/2018/mar/05/algorithms-rate-credit-scores-finances-data
At the end, this article brings up another intriguing idea. Insurance has been the primary way we hedge against the financial issues involved in disasters big and small. For over 100 years now most insurance has been a pooled risk type of product. It looked at others who were kind of like you. If you are a deep sea fisher you are lumped in with other deep sea fishermen. If you are a computer programmer you are lumped with them. Now, insurance companies can put trackers on your phone and on your car and look at your individual risk. They can look at all your digital footprint. In many cases they can even see your health information. In general, we can now have risk be not pooled, but a statistical indication of us as individuates. While for some this is good and it can be argued will push society to be better (as the Chinese are advocating) do we want governments to have that much insight in to us? Where does it end?
https://www.theguardian.com/commentisfree/2018/mar/05/algorithms-rate-credit-scores-finances-data
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