In the News
Can data collection be turned into a side hustle? In OzoneAI wants companies to pay you for your data, upending the ad model, Zack Whittaker at TechCrunch discusses a new startup, OzoneAI, which aims to collect user data through the incentive of pay. Whittaker explains that the company hopes to collect more useful, specific data from users through the incentive of receiving money for forfeiting your data over. Whittaker furthers that the data collected remains anonymous and that one can choose how much of their data is sold to the company.
Our Take
Data privacy and recent instances of data misuse have become a common topic of conversation for companies and consumers alike. While may consumers benefit from ads targeted to their likes and dislikes, the overwhelming amount of data that companies collect from consumers is unsettling for others. Ad-blockers have created a ‘safer’ space for users and their online activity. However, many websites, apps, and platforms require that you consent to their terms of use before accessing the site, which requires allowing some of your data to be used for the company’s use. The potential for OzoneAI to provide better quality data to companies while also gaining user consent through a pay incentive is an interesting initiative. In their model, customers opt to give up their data considering the money they receive as payment is of a higher value than their data privacy. This is an individual choice, but it could help companies and consumers alike.
Recommendations
How can you protect the privacy of your personal information while using messaging platforms?
- Understand the risks of putting your personal information into the world, and only share what you have to
- Weigh the risks and benefits of participating in a program where you sell your data or sign away your rights to the data through accepting a policy
- Research and read a company’s data privacy practices prior to utilizing their services
- Know your rights when it comes to data storage both on a company and legal level