China is likely to take over the United States in data generation. A new report has revealed that China is likely to generate 48.6 zettabytes in 2025. Six times that of in 2018. According to the study by IDC and Seagate, China is most likely to outpace the global average by 3% annually in data creation and replication. Meanwhile, the US generated 6.9 ZB in 2018 and projected to generate 30.6ZB by 2025.
Rising Establishment of Fintech Boosted Information Collection in China
Data is playing a crucial role in all economies across the globe and acts as an essential intangible resource. Experts are considering information as the currency which most of the economies rely on. Data is crucial for services on which various next-generation technologies such as machine learning, artificial intelligence, and IoT are developed.
Data is also playing an integral part for companies, who aim to reach out to new markets, provide improved customer services and benefits in generating new streams of revenue. Moreover, the example of Alibaba and Tencent introduced Alipay and WeChat Pay as digital payment methods through the traditional banking system. They were capable of doing it with the help of data collected from users and transformed in developing personalized financial services.
A tech policy fellow at the Mozilla Foundation, Ayden Férdeline, said that data collected from numerous sites is used as a weapon. The basis of his analysis was the use of information in an aggressive manner. For instance, showing customers ads related to cosmetic surgery or weight-loss pills not approved by medical boards. Information used in this manner is highly dangerous.