Large corporations have countless resources and can address various issues, but they still depend on their customers’ attitude and behavior. The use of technology has brought to the fore a number of concerns related to people’s privacy. Companies produce products and provide services that make people’s life easier and more comfortable, but they ask for a valuable asset instead (Bannan). Corporations collect data and use this information in different ways, which is often associated with threats to people’s privacy. Many criminals have used people’s data to steal their money or data that can be even more valuable than bank notes.
Contemporary consumers can be divided into several groups based on their attitudes towards their privacy. These are Savvy Shoppers (35%), Eager Extroverts (15%), Sunny Sharers (20%), Cautious Communications (9%), Walled Worriers (9%) (McCann 10). The largest group is comprised of people who value the comfort provided and are quite ready to share some information. They have some privacy concerns but are still optimistic. At that, they expect that companies will ensure their privacy and data security. Clearly, these customers will buy from companies they trust. Therefore, corporations will have to find ways to ensure privacy and data security as it will translate into the increase in the number of loyal customers. Some agencies focusing on privacy issues exist, but industries are self-regulating (Bannan). Hence, each corporation has to focus on this aspect to remain competitive.
Algorithms
The use of algorithms has proved to be beneficial for people in general and numerous websites in particular. At that, there are cases when the benefits are considerably less valuable than downsides and potential threats. Surveillance algorithm developed by JPMorgan is an illustration of this case.
The company developed an algorithm that helps monitor employees’ communication within the organization (Son). The algorithm analyzes communications carried out through electronic channels or telephones. Of course, the major benefit of this use is the chance to predict some criminal activities. For instance, the company may identify whether an employee is planning to provide some sensitive data to someone if the employee articulates this intention through email, social networks, instant messaging, or even telephone calls. Obviously, data management can facilitate effective decision-making (Smith and Mahmood).
At the same time, the employees’ right to privacy is violated. This is the most significant disadvantage and a reason not to use the algorithm. First, discussing something does not necessarily mean doing it, but people can be actually fired as their discussion may seem a vivid intention by some. More so, algorithms are good in personalizing data and making decisions based on the previous behavior or choices (Dewey). However, they still lack the flexibility that is a characteristic feature of the human’s mind. Managers may make incorrect decisions that will harm the entire organization as it may lose a valuable employee for no reason.
It is necessary to add that the use of such surveillance algorithms harms the entire society as well. Apart from privacy issues, the data may be used in many ways. People’s words can be misinterpreted or even falsified. No individual will feel safe as everyone will fear that they are being observed. This may lead to the development of the society of neurotics who will try not to share any ideas. It is possible to recommend the use of the surveillance algorithm only in cases when the person is under suspicion or has done something wrong.
Works Cited
Bannan, Christine. “The IoT Threat to Privacy.”Tech Crunch. 2016, Web.
Dewey, Caitlin. “What You Don’t Know About Internet Algorithms Is Hurting You. (And You Probably Don’t Know Very Much!).” The Washington Post. 2015, Web.
McCann. “The Truth About Privacy.” McCann, 2012, Web.
Son, Hugh. “JPMorgan Algorithm Knows You’re a Rogue Employee Before You Do.”Bloomberg. 2015, Web.
Smith, Chris, and Mona Mahmood. “Big Data, Big Problems? Nate Silver Explains Why We Need Better Habits for Weighing up Information in This Data-Rich Age-Video.”The Guardian, 2013, Web.