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B2B data sharing: boosting trust

July 1, 2019
Singapore unveils framework to facilitate data-sharing between organizations.

On June 28, 2019, Singapore’s Infocomm Media Development Authority (IMDA) and Personal Data Protection Commission (PDPC) announced the first comprehensive Trusted Data Sharing Framework (“Framework”) to facilitate trusted data sharing between organizations.

The trusted use of data is the foundation of a vibrant digital economy, and trusted data flows have the potential to deliver tremendous benefits to both organizations and consumers. For organizations, it facilitates more effective information exchanges, and enables shared data assets (e.g. between business partners) to support the development of innovative solutions, to customize services and processes for different market segments. For consumers, their willingness to share their data with organisations reflects the amount of confidence they have in an organization’s ability to use and safeguard data. The intent of the Framework is that with stronger safeguards and clarity on regulatory compliance, consumers will be more ready to share their data and consequently benefit from more personalised goods and services.

While organizations have begun to recognize the value of data, they face the following challenges in sharing their data assets:

  • A lack of guidance, methodologies and systemic approaches for data sharing;
  • Establishing trust with partners when sharing data;
  • Ensuring compliance with regulations such as the Personal Data Protection Act (PDPA);
  • Valuing the data assets they currently have; and
  • Addressing concerns that data sharing could result in a loss of business competitiveness or exposure of trade secrets.

This can impact their ability to maximise the use of data to develop and bring innovative products and services to market.

To address these challenges, the Framework helps organizations to establish a set of baseline practices by providing a common ‘data-sharing language’, and suggesting a systematic approach to the broad considerations for establishing trusted data sharing partnerships. It incorporates content from existing PDPC guides on personal data anonymization and sharing; new materials such as a guide to data valuation for data sharing; and sample legal templates to enable contractual data sharing. When using the Framework, organizations will also be guided through the regulatory considerations, and the contractual, technical and operational safeguards needed in a data sharing arrangement.

The Framework can help uplift practice norms – enabling better, trusted data flows for the Digital Economy both within the local ecosystem and globally. They can also empower emerging technologies such as artificial intelligence (AI) by incorporating accountability, transparency and human-centricity by-design right from the beginning.

The Framework can be downloaded at www2.imda.gov.sg/AI-and-Data.

Based on a press release first published on June 28, 2019, this article has been provided by IMDA and adapted by MIT Technology Review Insights. The original document and supporting materials are available here. Feedback on this initiative can be sent to corporate@pdpc.gov.sg.