02 Apr 2018
ISCA CEO, Mr Lee Fook Chiew, was quoted in The Business Times on the question of "What industry ramifications would there be from Facebook's data breach debacle? Are there lessons for businesses in today's Big Data world?" This is what he has to share:
Technology has advanced at such a rapid pace that countries and markets may not have considered its ethical and legal dimensions in sufficient depth. The recent debacle of Facebook’s data breach has the danger of undermining public trust in social media and other new technological applications. Eroding the public’s trust in the use of technology may hinder innovation, with ensuing drawbacks to the rate of progress in the material wellbeing of society. Perhaps this incident can act as a catalyst to start conversations on the ethical aspects and regulations around technology globally. More work needs to be done in this area, and the Institute is looking into the ethical and other implications in the use of new technologies like artificial intelligence (AI). - Lee Fook Chiew, Chief Executive Officer, Institute of Singapore Chartered Accountants (ISCA)
This article was first published in "Views From the Top" in The Business Times on 2 Apr 2018.
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