D Justhy

What will lawmakers do when every company in the world transforms into to digital?

When Mark Zuckerberg faced the lawmakers from the Senate Judiciary and Commerce committees on Tuesday the 11thof April 2018, Facebook’s business model was questioned. Sen. Dan Sullivan asked Zuckerberg how he classed Facebook. The debate was about how Facebook considered itself. Whether as a technology company or a publishing company.

Just imagine the predicament which the lawmakers will face if all the businesses in our world transform into digital business models. Most businesses in the world today are investing in transforming into digital business models.

Facebook, Google and Amazon are pioneers and they are indeed, shaping our world.

Lawmakers though, just like most boardrooms, probably failed to keep adequate pace in understanding the role of data in our world. Data breaches and current world events are sufficient evidence of this.

It is perhaps time for lawmakers to upgrade their understanding of these digital business models as well as the role of data.

The fact is, that the digital world is not going to get any simpler, if we do not get a grip on understanding the role of data in our world to begin with.

GDPR has probably come to focus recently and has highlighted the importance of “person centric” data in our world. However, most companies and indeed governments are a long way from being comfortable with managing data.

Knowing that data is a reflection of any process is fundamental towards evaluating any risk, be it enterprise or governmental risk. And the good news is that upgrading skills to manage data is the safest and best way for organisations to stay safe, relevant and compliant, in the digital age.

Whether, the law community starts to include data management as a mainstream topic, remains to be seen.

But, there is no doubt that law makers need to evolve themselves into datapreneurs, if we are to see a sane digital world evolve over the coming years.

More information on the datapreneur is available in my book The Billion Dollar Byte.