World Economic Forum Helps Colombia Transition to Data-Driven Economy
Bogota, Colombia, December 17, 2021 / TRAVELINDEX / The Centre for the Fourth Industrial Revolution and a multistakeholder community have developed a technology and governance framework for trustworthy and commercially sustainable public-private data exchanges in Colombia. This new public-private resource will give individuals greater control over how their data is used and serve as a means for responsible value creation.
The multistakeholder community comprises more than 150 business leaders, academics and policy-makers in 60 organizations from 25 countries. It was led by PwC Colombia, the Colombian government and the World Economic Forum’s Data for Common Purpose Initiative (DCPI).
Benefits of Data-Driven Economy
The group put together a framework that supports Colombia’s national digitization strategy as part of a broader effort to transition from a traditional to a data-driven economy as data exchanges will play a pivotal role in facilitating this transition. Creating a governance structure that makes them sustainable both technologically and ethically is essential.
With rising energy costs, disrupted supply chains and rising concern for the environment, the urgency and necessity to act on data-driven insights grows. Officials and private sector experts will focus their initial efforts to address the net-zero transition within the Colombian energy sector and apply utility-based, data-insight models to the energy sector. The insights and best practices will be applied in other sectors over time.
Toolkit for Meaningful Trust
One of the main challenges in implementing a sustainable, equitable and accountable data strategy for Colombia is strengthening trust in the use of data. According to the recent Fall 2021 Visa, Inc. Consumer Empowerment Study of the connected population in Colombia, only 9% of connected Colombians feel entirely in control of their data, and 89% want at least the option of more control over how their data is used. In response, with Visa International as a co-creator, a new toolkit was designed to strengthen trust via new consent mechanisms.
The DCPI aims to build meaningful trust with citizens by highlighting the importance of individuals’ consent to use personal data within public-private data exchanges. By providing a clear roadmap for policy-makers to co-design these collaborative exchanges, the underlying data economics can be addressed in the early design phase to ensure sustainable commercial value is created over time.
With the erosion of trust throughout the digital ecosystem – putting control back into the hands of the individuals has become a global priority. Clear, consistent and granular consent mechanisms are foundational for driving meaningful change in data-driven insights and the decisions that come from them. The mutual exchange of strategic digital assets and insights, such as carbon emissions and energy usage indicators combined with an underlying framework for strengthening and maintaining trust, is central to creating a sustainable and inclusive digital ecosystem.
In the first half of 2022, a toolkit will be published on strengthening trust through individual consent experience. The focus is on enhancing the consent of individuals in terms of how data is internally governed within an exchange, the commercial interactions with the user and the underlying technology architecture. The toolkit is being piloted by C4IR Colombia and the City of Medellín as they examine several models for public-private data exchanges in 2022.
Sheila Warren, Deputy Head of the Centre for the Fourth Industrial Revolution Network, World Economic Forum, said: “The core focus of the Data for Common Purpose Initiative is centered on unlocking the sustainable value of data while protecting individual privacy rights. This new report marks another milestone of the Centre for the Fourth Industrial Network to deliver real-world impact in accelerating the responsible transition to a data-driven economy.”
Víctor Manuel Muñoz Rodríguez, Director of the Administrative Department of the Presidency, Colombia, said: “The unfolding of the Fourth Industrial Revolution has highlighted the need to collect and process data in a strategic and innovative manner. The development of tools or models, such as data marketplaces and data trusts among others, are beginning to show their potential to promote economic and social objectives for the common good. Aware of this new reality, Colombia’s public policy instruments have established the development of a governance model that aims to facilitate the effective use and exchange of data through emerging technologies such as artificial intelligence, as well as providing the necessary framework to ethically and responsibly implement it.”
José Antonio Vargas Lleras, President World Energy Council Colombia, said: “Digitalization is a major player in the energy transition. Indeed, tools such as mobile applications, big data, artificial intelligence and blockchain have become major transformers of our sector. Digitalization is allowing us to further optimize energy consumption in terms of efficiency. In addition, it allows the incorporation of new technologies such as hydrogen and therefore contribute to the reduction of CO2 emissions and mitigate the carbon footprint. In short, digitalization is at the heart of the humanization and sustainability of global energy systems.”
Felipe Bernal Guarín, PwC Strategy Consulting Manager, World Energy Council Colombia and the Forum’s DCPI community member, said: “Data-energy-trust was the pivotal triad discussed at COP26 as key enablers to attain the universal ambition of limiting global warming to 1.5ºC and achieving net-zero economies in 2050. What do they have in common? Where do they meet? And how can we leverage their sweet spot amidst cross-border data exchange initiatives? Not only for climate change action and energy transition but also for the threads that globally bind us.”
Erez Zaionce, Director, C4IR Colombia, said: “In 2022, in alliance with Colombian national government entities, C4IR.CO will participate in implementing a pilot project in data exchange within the framework of the National Data Infrastructure Plan of Colombia, as part of the strategy of reactivation, repowering, and sustainable and inclusive growth of Colombia.”
Silvia Constain, Head of Government Engagement for Visa Latin America and the Caribbean, said: “At Visa, we are committed to working to empower all individuals and raising overall consumer confidence in the digital ecosystem. One way we hope to materialize this commitment is by championing approaches to ecosystem design, consumer choice and consent management experiences that support transparency, consistency and empowerment for individuals. Through our work with DCPI and pilots like in Colombia, we are testing and improving approaches to build trust through consent management in a repeatable fashion and provide a roadmap for other nations or organizations to follow.”