Question

Google was recently fined for it's policies related to the handling of consumer data. While many have begun comparing tech companies to oil barons of the past for how they are profiting off of data, the companies are quick to defend themselves as people attempting to do good with occasional missteps. Also, as the title of "oil baron" is viewed as largely negative, the Chief Financial Officer of Google stated that data is more like sunlight than oil.

Do you agree with that view of data? Do you feel that comparing tech companies to oil barons is accurate? What steps do you feel should be taken, if any, to improve the situation?

Answer 1

In my view point and researching on this topic but before that I would like to highlight the attention towards this term 'DATA'. This term referred has significantly deep meaning and the highest value on the earth. As data is not only about any random information but infact it has been trillion dollar industry in this entire world. Which each and every company and country continuously striving to keep its data intact. Data integrity / security is a key and the most vital factor of development in today Era's. At first glance, it may seem strange that a company can have such a high market capitalization even prior to posting its first profitable year. The key to this phenomenon is the ability for certain technology companies to monopolize a given market. This is why Silicon Valley venture capitalists are so obsessed with startups that have the potential for disrupting industries. There's harsh reality of technology companies being considered as oil barons which signifies a negative impression because there have many reports and claim made regarding unethical usage of the data which has outburst many sectors for theft of the private information and company secrecy. However, we may be entering an era in which human frailties begin to slow down progress from digital technologies. In a series of studies, we explored the implications of IT-induced technology stress, technology addiction and IT misuse in the workplace. One implication of our findings is that the very qualities that make IT useful — reliability, portability, user-friendliness and fast processing — may also be undermining employee productivity, innovation and well-being. Technology companies needs to get attention of having transparency in their system of operations But with new technology come challenges, too. There's a steep learning curve when it comes to learning to use and adapt to new technologies, they can be costly for businesses to implement, and there's the looming concern we all feel about some new tech: Will it steal our jobs?

The short answer is no. Most new technologies will only serve to help customer-facing professionals to do their jobs more efficiently. These technologies might change your job, however, and that's where these predictions come in.

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