Data Trusts for the Automotive Sector

The automotive industry has seen a growth in the number of inter organisation collaborations. These collaborations have seen a dramatic rise in the quantity of data being shared in order to solve complex problems. As a result, there is now a growing need for the industry to resolve the issue of how it will share such large quantities of data in a transparent and ethical manner. One approach to this issue is the use of data trusts.

With the general rise in interconnected technologies, the automotive sector has also seen an increase in the use of interconnected technologies and big data such as in connected cars and the development of autonomous vehicles.

A report by Deloitte stated that 64% of consumers now consider privacy of data a key factor when purchasing a car. The report also stated that if consumers perceive that their data will be handled in a transparent and ethical manner, then they are much more likely to engage with new technologies. With the development of autonomous vehicles the need for sharing vast quantities of data increases. Therefore, it is important for companies in the automotive sector to demonstrate that their customers’ data is handled in an ethical manner to ensure that the uptake of new technologies is positive and customers are reassured that any concerns may have about how their data is being shared are put to rest.

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