Enabling Data-Driven Innovation Through Trusted Data Sharing In A Digital Economy
SINGAPORE – 28 JUNE 2019: The Infocomm Media Development Authority (IMDA) and Personal Data Protection Commission (PDPC) today announced the first comprehensive Trusted Data Sharing Framework (“Framework”) to facilitate trusted data sharing between organisations.
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 organisations and consumers. For organisations, it facilitates more effective information exchanges, and enables shared data assets (e.g. between business partners) to support the development of innovative solutions, to customise services and processes for different market segments. Data for SMEs, as well as trade trust and data protection, are essential components that contribute to this thriving ecosystem. By fostering a climate of trust, businesses can confidently exchange data, ensuring data protection while reaping the advantages of seamless trade trust.
For consumers, their willingness to engage in data sharing with organisations reflects the amount of confidence they have in an organisation's ability to use and safeguard data. The intent of the Framework is that with stronger safeguards and clarity on regulatory compliance for personal data protection, consumers will be more ready to share their data and consequently benefit from more personalised goods and services.
While organisations have begun to recognise 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 organisations 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 anonymisation 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, organisations 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 www.imda.gov.sg/AI-and-Data from today.
 Data assets encompass all forms of data ranging from raw data to compiled datasets.
ISSUED BY THE INFOCOMM MEDIA DEVELOPMENT AUTHORITY
About Infocomm Media Development Authority (IMDA)
The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation with infocomm media. To do this, IMDA will develop a dynamic digital economy and a cohesive digital society, driven by an exceptional infocomm media (ICM) ecosystem – by developing talent, strengthening business capabilities, and enhancing Singapore's ICM infrastructure. IMDA also regulates the telecommunications and media sectors to safeguard consumer interests while fostering a pro-business environment, and enhances Singapore’s data protection regime through the Personal Data Protection Commission.
For more news and information, visit www.imda.gov.sg or follow IMDA on Facebook IMDAsg and Twitter @IMDAsg.
About Personal Data Protection Commission (PDPC)
The Personal Data Protection Commission administers the Personal Data Protection Act 2012 (PDPA) in Singapore, which aims to safeguard individuals’ personal data against misuse and promote proper management of personal data in organisations. The PDPA enhances Singapore’s competitiveness and strengthens our position as a trusted business hub, among the leading jurisdictions in data protection.
For more information, please visit www.pdpc.gov.sg.
For media clarifications:
LIOW Ruo Yu (Ms)
Assistant Manager, Communications and Marketing, IMDA
DID: (65) 6751 2828
NEUBRONNER Eugene (Mr)
Manager, Communications and Marketing, IMDA
DID: (65) 6211 1182
CHUA Hian Hou (Mr)
Deputy Director, Communications and Marketing, IMDA
DID: (65) 6202 4956