PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Apple’s Tim Cook Expresses Deep Concern About Data Collection and Use

By Tim Sloane
October 26, 2018
in Analysts Coverage, Fraud & Security, Personal Data, Security
0
2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
data collection

data collection

Apple Warns algorithms “deepen divisions, incite violence and even undermine our shared sense of what is true and what is false.”

While some like to think this statement is a self-serving shot at Google and Facebook, the current national dialogue appears to support Tim Cook’s comments, even if we can’t scientifically link cause & effect. Relevant to FIs who are increasingly interested in leveraging social media, he urges “a comprehensive federal privacy law in the United States”. This is from the NYT email that reported the speech Tim Cook gave:

“Timothy D. Cook, Apple’s chief executive, rebuked his Silicon Valley peers in a speech to European officials on Wednesday, criticizing them for building a “data industrial complex” in which our personal information “is being weaponized against us with military efficiency.”

As a result, he said, algorithms have magnified our worst tendencies and “rogue actors and even governments” have used our data against us “to deepen divisions, incite violence and even undermine our shared sense of what is true and what is false.”

In one piercing portion, Mr. Cook criticized how companies like Facebook and Google — while taking care not to mention them by name — deliver personalized news feeds that lead to so-called filter bubbles and confirmation bias.

“Your profile is then run through algorithms that can serve up increasingly extreme content, pounding our harmless preferences into hardened convictions,” Mr. Cook said. “If green is your favorite color, you may find yourself reading a lot of articles — or watching a lot of videos — about the insidious threat from people who like orange.”

He continued: “We shouldn’t sugarcoat the consequences. This is surveillance. And these stockpiles of personal data serve only to enrich the companies that collect them.”

Whew. Those are strong words, particularly from one of tech’s most powerful people.

Mr. Cook and Apple have been clear leaders in Silicon Valley in protecting user privacy. But the speech also struck some in the tech industry as self-serving.

Apple’s business model relies on people buying more iPhones, iPads, Apple Watches and other gadgets, many of which don’t need much user data to work well. Google, Facebook and increasingly Amazon, however, have prodigious advertising businesses that rely on building detailed profiles of what people read, buy and like.

In his speech, Mr. Cook endorsed “a comprehensive federal privacy law in the United States,” which could help undercut the businesses of Apple’s rivals.”

While agreeing wholeheartedly that the problem outlined by Apple exists (yes, even without proof of a causal relationship), we wonder if legislation can be created that would have sufficient nuance to enable the “good” while eliminating just the “bad.”  Gathering contextual information is increasingly critical to providing consumers services that they want with minimal effort. Speech recognition will improve as it increasingly utilizes context to fill in garbled speech. So arguably the problem isn’t the collection of data, the typical lens of privacy laws, it’s how that data is used.

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: AppleBig DataCustomer InteractionCybersecurityPersonal Data

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Using the Card “Beyond” Payments to find the Holy Grail

    Using the Card “Beyond” Payments to find the Holy Grail

    May 14, 2025
    Payments Modernization

    Playing Offense and Defense: Why Now Is the Time for Payments Modernization

    May 13, 2025
    Authorization Rates

    Boosting Revenue for Merchants by Optimizing Authorization Rates

    May 12, 2025
    Why Payment Orchestration is the key to international merchant growth

    Ensuring Payment Decisions Pay for Themselves

    May 9, 2025
    cross-border

    As Businesses Reevaluate Cross-Border Relationships, Financial Institutions Can Help

    May 8, 2025
    Nacha WEB Debit Account Validation Rule Verification Solution, Quovo ACH Payment

    The Brave New Future of the Disappearing Account

    May 7, 2025
    solana financial

    After an Upgrade, Solana is Primed to Be the Blockchain of Choice for Financial Institutions

    May 6, 2025
    PAR values

    The Connecting Thread: How PAR Values Can Mitigate Fraud and Supercharge Loyalty Programs

    May 5, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result