Web Science Trust Board member, John Taysom writes on the Importance of Data Governance, with Special Reference to Finance in a recent Royal Society and British Academy publication. The report, Connecting debates on the governance of data and its uses, brings together contributions from leading representatives from academia, government and business; including experts in ethics, law, finance, social and data sciences, machine learning and statistics in order to build connections between existing debates, and identify key questions and gaps.
The Academies have initiated a project examining new uses of data and their implications, and reviewing the data governance landscape. The project will make recommendations for cross-sectoral governance arrangements that can ensure the UK remains a world leader in this area.
For the Web to succeed, we need to understand its societal challenges including increased crime, the impact of social platforms and socio-economic discrimination, and we must work towards fairness, social inclusion, and open governance.
Web Science is even more important now than it was when the field was launched ten years ago, say Professors Dame Wendy Hall, Jim Hendler, and Steffen Staab in our Web Science Manifesto, published earlier this week at WebScience@10.
While recognising the huge influence the Web has had on our lives since its foundations were defined by Tim Berners-Lee 27 years ago, the Hall, Hendler, and Staab focus their attention on how Web Science tackles the unforeseen social outcomes of this era-defining technical innovation. They discuss the digital divide that separates those who have and those who do not have access to the Web – the challenges we must understand to find a viable balance between data ownership and privacy protection, and between over-whelming surveillance and the prevention of terrorism.