Alem Tedeneke, Public Engagement, World Economic Forum, email@example.com
New York, USA, 4 August 2021 – The World Economic Forum’s Data for Common Purpose Initiative (DCPI) completed the first stage of two case studies demonstrating how data marketplaces can be leveraged to tackle broad sets of social outcomes, such as helping farmers in India.
“Many platforms currently do not offer true data portability, which limits the possibility of combining data across them for multiple purposes. With data marketplaces emerging, it offers the opportunity to accelerate the responsible exchange and use of data that can solve critical challenges and fuel innovation for society. These case studies within the DCPI offer real-life examples of how data marketplaces can help to solve some of the world's critical problems,” said Nadia Hewett, Project Lead, Data for Common Purpose Initiative and Blockchain Technology, World Economic Forum.
The DCPI is an initiative that seeks ways to exchange data assets for the common good while protecting individual parties' rights and mitigating risks.
The case study projects, conducted over the past year, highlight how data ecosystems could promote transitions to a data-driven economy. The case studies are part of a community of more than 50 global partners in 20 countries, including seven governments, that focus on exploring data governance models.
Insights from each case study include:
Case Study Results – India’s Agricultural Data Exchange
As a data-rich country with access to high-quality, reliable data, India was a prime candidate for the case study. For a data exchange to be effective, sector-specific models and use cases need to be designed and developed.
This case study focused on data exchanges in the agricultural sector to provide value to farmers at scale. It is in the process of developing a streamlined, scalable and sustainable digital agricultural ecosystem and is looking at ways to promote the availability of datasets in a usable format and accelerate innovation. For example, organizations usually record their yields and profits in different formats, making data portability difficult even when datasets may be available. Availability and accessibility of critical datasets can improve access to institutional credit for farmers and provide accurate predictions about weather and commodity prices, resulting in better coordination and planning.
This case study was driven by the World Economic Forum's Centre for the Fourth Industrial Revolution India (C4IR India) in collaboration with the State Government of Telangana in India, with a multistakeholder community from the public and private sector and the National Institution for Transforming India (NITI) Aayog.
A related report outlines their recommendations regarding the necessary components for functional data exchange architecture, governance frameworks and incentivization mechanisms.
"Telangana recognizes that agriculture is a priority sector for the state and to improve the livelihood of our farmers. We believe this initiative will allow the democratization of datasets and thus accelerate innovation in critical sectors," said Jayesh Ranjan, Principal Secretary of the ITE&C and I&C Department, Government of Telangana.
Case Study Results – Japan’s National Data Strategy
Japan’s case study programme explored data exchange deployment. It drew parallels with the ecosystem of a stock exchange and looked at a model that operates a data marketplace irrespective of who initiates the exchange platform. The briefing paper discusses the roles and responsibilities of Data Marketplace Service Providers (DMSPs) in addressing the challenges inherent in data marketplaces that connect large numbers of unrelated buyers and sellers. As decision-makers develop data marketplace solutions specific to their unique cultural nuances and needs, it provides insights into key governance issues to get right and do so with global interoperability and adaptability in mind.
This case study was a project of the Forum’s Centre for the Fourth Industrial Revolution Japan (C4IR Japan), co-founded by the Forum, the Japanese government and the private sector. Findings from the case study informed the government’s recently announced National Data Strategy (NDS). The NDS cited the DCPI and the concept of data marketplaces. Officials involved in the NDS have expressed support for proof-of-concept initiatives to validate the function of data marketplaces predicated on a fair, neutral and trusted third party to ensure active data exchanges and the creation of dynamic markets.
"Data marketplaces can help society use data securely and efficiently, build trust and promote the common good. The Japanese government hopes that the Forum's efforts will contribute to the promotion of data marketplaces," said Mitsuo Tanabe, Counsellor, the National Strategy Office of ICT, Cabinet Secretariat, Government of Japan.
Start of a multi-year initiative
These projects, including the report released earlier this year – Data-Driven Economies: Foundations for our Common Future – lay the foundation for a multi-year initiative from the DCPI. This initiative is intended to demonstrate new economic models that embed data-sharing tools (such as data exchanges) while articulating parameters for data’s responsible, fair and ethical use.
In the months ahead, the DCPI will continue to pilot ethical data exchanges rooted in responsible data sharing and privacy policies with an eye to global and forward-looking interoperability and applicability. These efforts will leverage the Forum's singular global network of public and private partners.
Other communities within the Fourth Industrial Revolution Network will also contribute to these efforts. Later this year, for instance, C4IR Colombia will share results from its case study projects and governance frameworks piloted as part of the "Valle de Software" plan of the city of Medellín. The plan will utilize, among others, a super App that aims to digitize public services to citizens and by, turning data into a strategic asset, will help solve challenges such as infrastructure, mobility and energy.
“Through collaboration across borders – and models for data sharing that are rooted in a responsible and ethical framework – we can ensure that everyone benefits from the changes brought about by Fourth Industrial Revolution technologies,” said Sheila Warren, Deputy Head of the C4IR, World Economic Forum.
Notes to editors
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