The last few decades have been filled with a far greater number of innovations and disruptive technologies that have changed entire industries. Even though many have caused many jobs to be lost in old and established industries, new ones have sprung up to provide us with better products, communication and services. However, we have noticed an emerging pattern that has sprung from all these technological advances, such as user and customer privacy. Data leaks and mismanagement have been notoriously plaguing tech companies and those who handle sensitive financial data, such as Equifax.
All of this may be due to the fact that we have been pushing for too much rapid innovation and have left checks and balances behind. There is not enough regulation created and companies are being careless with how their handle data, in favor of increasing profits and pleasing investors. What if we were to change the business model to provide safer innovation with more emphasis on quality control and user data safety. Businesses should shift their approach to be broadly good for society and make to take into account all the stakeholders involved. This would insure long-longevity of the business and reduce its negative impacts on the stakeholders involved.