NOLWAZI HLOPHE: Careful with my data!

In today’s digital world, the phrase “you are the training data” has become increasingly important. But what does it mean, and why should you care?

Training data is the information artificial intelligence (AI) systems use to learn and make decisions. Think of it like teaching a child to recognise animals by showing them pictures of cats and dogs. The more pictures they see, the better they get at identifying each animal. Similarly, AI systems learn from the data they are given.

How am I affected?

Every time you use the internet, you leave behind bits of information — your search history, the websites you visit, the products you buy, or the posts you like on social media. Companies collect this data to understand your preferences and behaviours. They use it to improve their services and make your online experience more personalised.

Using your data can have several benefits. For instance, websites and apps can show you content that is more relevant to your interests, while enabling companies to improve their products and services by analysing user data.

By analysing data, companies and online stores can recommend products that suit your tastes. They can also use that data to become more innovative and create new technologies that make our lives easier.

However, there are also concerns about how your data is used and many people worry their personal information is being collected and shared without their consent.

This is why it’s important to know how your data is being used, and who has access to it. If the data used to train AI systems is biased, the AI can make unfair or discriminatory decisions, and this is why it’s crucial to use diverse and representative data.

What are the specific concerns with that? One may be that firms are generating income off your personal data, including by selling it to third parties. Users want to know what data is being collected and how it is being used because transparency helps build trust between users and companies.

How can I stay safe?

As a user, you have the power to control your data, such as regularly reviewing and updating the privacy settings on your devices and online accounts to control what data is collected. Users can also learn about the data policies of the services they use, as this helps them make informed decisions while navigating the online realm.

Users can also advocate for clear and transparent data practices, which will help ensure companies are accountable for how they use your data.

Data holders and/or users of AI also play a crucial role in ensuring data is used responsibly, by enforcing stricter privacy laws to ensure companies collect and use data responsibly. This includes requiring clear consent from users before their data is collected and ensuring that users can control their data.

While many operators in this space may be trying to do the right thing, the role of the regulator is to set clear and consistent standards that guide the sector towards safe and ethical practices.

• Hlophe is Senior Fintech Specialist at FSCA and Co-Lead of the Regulatory Guidance Unit