Data protection and the quantified self

Quantified-self devices have achieved mainstream acceptance. What happens to the enormous amount of data that gets collected and how safe is it?

The next phase of the trend

Smart watches and fitness trackers are a popular way for consumers to measure their vital signs and track their activities, usually with the goal of improving their health. The data collected by these devices has the potential to create a positive impact for consumers and their long-term health prospects.

The next phase of the quantified-self trend is all about how to best use this enormous amount of data that is being collected. We see three important areas where personal health data collected by ubiquitous smart devices can help both an individual, society and our healthcare systems:

1. Personal health: better diagnostics, personal medication and digital treatment
2. Society: mass-population health indicators
3. Healthcare systems: lowering costs

Solving the privacy issues

In order to reap all the benefits from the quantified-self trend, privacy issues need to be solved and the quality of the data must improve. The data are anonymous, but since they would be sourced from personal devices and integrated into electronic healthcare records, a change of privacy laws in most countries would be required for both of these elements. Unauthorised usage of this data should also become illegal in order to diminish the potential for a marketplace of (stolen) personal medical data. Life and health insurance companies, too, would love to get their hands on this data to enhance their profitability. This also makes the security of online medical records a vital job for government agents or electronic medical-record providers. Perhaps the laws, security and systems used by Estonia, known as e-Estonia, can serve as an excellent example for other countries.¹

Our Global HealthTech strategy harnesses the quantified-self trend through its focus on companies digitalising the healthcare sector to make it more efficient, connected and focused on prevention.

To find out more about the quantified self and the investment implications, read the full paper: ‘Quantified Self: from hype to trend’.
 

Source.

[1] https://www.centreforpublicimpact.org/case-study/e-estonia-information-society-since-1997

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