Senior Reporter
geisha.kowlessar@guardian.co.tt
Minister of Planning and Development, Pennelope Beckles, said yesterday while data can be instrumental to growth and national development, there are negatives when data is mishandled or not effectively manage.
Speaking at the United Nation’s T&T Big Data Forum, which was held at the Hyatt Regency yesterday, Beckles noted that data protection is essential for economic development, because effective data protection laws and regulations advance citizens’ trust in digital tools and electronic systems through the integration of rights and protections against the misuse of their personal data.
Beckles noted that implementation of smart-nation infrastructure portends a wealth of data for analysis and utility to provide numerous platforms and solutions for building prosperity in every facet of endeavour.
She said AI goes hand in hand with big data, because of its use of algorithms to extract relevant data for analysis from huge volumes at rapid rates.
Noting that data and analytics are already being used by businesses to predict what customers want, the minister said in virtually every area of the economy, big data analysis offers valuable insights that can be applied to boost productivity.
“In tourism, for example, descriptive analytics of real-time and historical customer data can help reduce costs and improve forecasting accuracy of hotel occupancy.
“In transportation, traffic grids, congestion, and commuter data can provide authorities with insights to designing solutions that improve traffic flow and reduce man hours lost to traffic, including identifying just by an analysis of patterns of mobile phones’ geographical positions, places where the road surface needs to be repaired,” Beckles explained.
Therefore, she emphasised that big data applications are vital for local government reform and the work of municipal authorities.
Also speaking at the forum was Joanna Kazana, United Nation’s resident co-ordinator, who said many developing countries are at risk of becoming mere providers of raw data while having to pay for the services that their data help to produce.
She said the innovation divide is becoming even more stark.
“Digital technologies have moved beyond the Internet and mobile devices into autonomous intelligent systems and networks, generative artificial intelligence, virtual and mixed reality, distributed ledger technologies (such as blockchain), digital currencies and quantum technologies,” she explained.
Kazana also noted that the wealth generated by these innovations is highly unequal, dominated by a handful of big platforms and states.
“Digital technologies are accelerating the concentration of economic power in an ever-smaller group of elites and companies: the combined wealth of technology billionaires, US$2.1 trillion in 2022, is greater than the annual gross domestic product of more than half of the group of 20 economies,” the UN resident co-ordinator further explained.
She said behind these divides is a massive governance gap, adding that new technologies are lacking even basic guardrails.
“Because such digital technologies are privately developed, Governments are constantly lagging behind in regulating them in the public interest. As a result of decades of underinvestment in state capacities, public institutions in most countries are ill equipped to assess and respond to digital challenges.
“Very few can compete with private companies to harness talent and offer incentives to digitally skilled people to work in the public sector,” Kazana said.
She added that public administrations are being hollowed out at the time that they are most needed to support safe and equitable digital transformations.