indica News Bureau-
Data privacy must be seen as a human right that needs to be protected and have full transparency, said Microsoft CEO Satya Nadella on January 23 at the World Economic Forum (WEF) Annual Summit 2020.
Nadella also favored a debate on CEO pay and all kinds of remuneration, including return on capital.
During a chat with WEF founder and executive chairman Klaus Schwab, Nadella also said that it needs to be ensured that the huge data being used with consent is for the good of the society as well, reported Inc42.com.
On privacy, he said data dignity was crucial and the next level of work was not just privacy, but on controlling how one’s data was being used in the world. “What if the consumer benefited from their data as well as advertisers? More work needs to be done around data dignity and new business models in the 2020s,” he said.
Asked what was his recipe for doing good and at the same time doing well as the most valuable company in the world, Nadella said, “It comes down to having that core business design: when you do well, the world around you does well.”
Referring to the book ‘The Narrow Corridor’, he said you have to find what works, so no one loses out. It is in the long-term interest of the shareholders that we do the right thing by the stakeholders, he emphasized.
Discussing the pros and cons of Artificial Intelligence (AI), he said, “The best way to ensure there’s no bias in AI is to have the team creating the AI representing the diversity we want it to have.” He also quoted the example of New Delhi police using facial recognition to identify thousands of missing children in four days while also talking about how AI could be used to invade privacy.
Meanwhile, concerns have been raised about India’s PDP bill. The PDP draft allowing law enforcement agencies to process personal data of users without consent for “reasonable purposes” is being criticized by many. Justice BN Srikrishna, who led the committee that drafted the bill, called it “dangerous”. He said that this can turn India into an Orwellian state.
Nadella had raised concerns about the lack of trust between the United States and China affecting economic growth. At the WEF Summit, he said that the US and China need to reconcile rather than create separate supply chains for every country.