In this latest edition of 60 Seconds, Cam Vidler, Vice President, Industry and Innovation, shares his view on why the recently announced Data Charter is so important for the future of Canadian competitiveness, and why businesses must play a key role in ensuring we take the right path that positions the rights of individuals at the centre of smart policy changes.
So this Tuesday, the federal government announced a Digital Charter. So what is this digital charter? What does it mean for Canada? And what does it mean for Canadian business? You may have heard people talk about data as the new oil, the new gold or even the new currency. Whatever you want to call it, it’s pretty clear it’s a valuable resource to our economy and our society today. It’s what, combined with artificial intelligence, allows us to make better predictions, better decisions and that can solve problems like finding a leak in a pipeline before it happens, or something as simple as getting you to work in the morning. And it’s really important to business as well. Seven out of the top ten companies in the world, in terms of their value, are tech companies and that’s largely based on the data they have and the value they create with that data. And Canadian business can’t fall behind. That’s why this digital charter is important. Because it’s going to take a look at the rules that we have in place and the policies to make sure that Canadians have confidence in the marketplace, trust the organizations and businesses that they work with with their data, which really enables Canadians and businesses to work together to unlock the value and the true potential of data.