The government has estimated that the impact of personal data mobility enabled productivity and efficiency is worth approximately £27.8bn. Smart Data could be a key part of the Government’s arsenal in the fight against Covid-19 and climate change.
Up until now, the UK has taken a piecemeal approach to unlocking data. This creates data bottlenecks that hinder us from allocating resources better within the home, at work, and across society. Open Banking has pioneered data sharing in the UK and provides a foundation of knowledge and learning for Open Finance and Smart Data. However, Open Banking is underpinned by a complex regulatory structure, faces governance challenges and has not yet resolved its longer-term funding.
Following the publication of BEIS reports about Consent and Liability for Smart Data Initiatives in the UK, the authors (Faith Reynolds, Sharon Cunliffe, Miles Cheetham, Gavin Starks) provide an overview webinar and discussion.
2020-09 BEIS response