Abuse of Big Data means that the worst-case scenarios of paranoia are becoming reality, including, among others, endless government surveillance, the despotism of insurance companies and the tyranny of employers. Whether we like it or not, the genie is out of the bottle – we have already entered the era of digital espionage.
Defending Your Refrigerator Privacy
Insurance companies are buying your credit card records. They want to know if you eat at fast food chains, what magazines you subscribe to, and what prescription drugs you buy.
Your purchasing behavior is food for the brains of analysts who need the data to predict whether you are a reliable customer with solid financial habits. Doubtful customers who want to be greeted with French fries are likely to receive higher life insurance rates or even a negative response. So if you want to keep your “refrigerator habits” private, consider paying in cash.
Social media accounts are another source of valuable personal information, voluntarily posted by people themselves. In this light, dedicated Facebook Health Digest followers earn more points, while singles who follow Buffalo Wild Wings fall into a losing category. That's why configuring your Facebook privacy settings appropriately is a very good idea.
Close relationships…with a bank
Banks easily partner with insurance companies to get your data faster. Want a loan? Your spending habits will be scanned to see if you splurge on vacations or buy high-end brands. They’d even like to know what your mom does for a living. Specifically, when banks think you’re prone to overspending, expect higher interest rates. People from “untrustworthy” groups may not get a particular loan or service simply because they’ve never seen those products advertised. It’s sad, because by denying loans and services to those who aren’t expected to accept them “by default,” banks are widening the gap between rich and poor.
Big Data Audit for Hiring: Dream or Nightmare?
Keep an eye on your employer: there is software that will let your boss know if you are about to quit, even if you don’t know it yet. A program can also predict which employees are more likely to overspend. In addition, data analysis says that people who have three or more social media and use a default browser change jobs more often (there are many other similar observations).
Although the whole idea sounds a bit creepy, some companies are already using big data to make hiring and promotion decisions. So how about software that predicts your future decisions?
These programs are advertised as free from human bias – but humans created them. Humans, who are quite biased and can make mistakes. There was an earlier case with the same program, which rejected every good candidate for a job due to incorrect instructions.
The problem is, we lack the ethical and practical experience in using such solutions. During the approval period, when companies adopt new technologies, both employers and employees need to keep this in mind.
Securing customer data… Are you kidding?
All these greedy data collectors are not that safe. When hackers get into their system, your data is waiting for them on a silver platter.
Unfortunately, no one is safe: not banks, not hospitals, not huge ports. Criminals have already broken into such giant organizations as Home Depot, Target, JP Morgan, Barclays, and many others.
