The 2022 Davos agenda addresses the importance of Data Ecosystems
More than $20 billion in new value has been created by public-private data exchanges for the common good. They have adopted innovative business models, privacy-enhancing new approaches and technologies to strengthen citizen trust.
The challenges organizations are facing today, whether economic, environmental or societal, have become so complex that it is impossible for any individual organization or government to solve them by themselves. Sharing and exchanging data between multiple stakeholders at scale has become an imperative.
The 2022 Davos Agenda had 4 dedicated sessions on data exchange and data sharing.
Listen to the panel entitled “Strengthening Trust in Public-Private Data Exchanges” where Fabrice Tocco, Dawex co-CEO, is sharing his vision on new data exchange ecosystems.
Humanitarian and health emergencies
Accelerating response with Data Exchange
The COVID-19 pandemic has illustrated how critical data use is to build up fast response in crisis situations. Data Exchange Platforms offer a trusted environment to facilitate and accelerate data circulation while ensuring traceability and security over the data transaction. Here are some use cases where data sharing is a game changer:
- Speed-up the search for new drugs & solutions and anticipate where scarce supplies will be most needed
- Understand the spread of diseases and predict effectiveness of different actions to slow it
- Bring together scattered non-standardized data to create a common picture of needs and response
Climate change
Reducing carbon footprint
Climate change requires immediate and far-reaching action. According to the BCG, cross-sector data partnerships contribute to speeding up the journey to net-zero GHG emissions by 5 to 10%. Data Exchange solutions are key in helping climate related data circulate and raising awareness among the many stakeholders with the following goals:
- Deliver more accurate and timely weather- and climate-related analysis
- Work out a complete and accurate supply chain-wide carbon footprint by sharing carbon-equivalent data
- Create digital twins to provide highly accurate predictions of climate future developments
Sustainable development
Improving natural resource management
Natural resources and biodiversity are threatened by human activities. Sharing and exchanging data can optimize the use of natural resources and reduce the human footprint:
- Monitoring of forest cover with earth observation data collected by satellites, drones and other connected devices
- Creating climate-based use cases to help farmers make the right operational decisions and reduce chemical inputs
- Using sensor data from fishing vessels to create a best practice fishery management system
Trade and macroeconomy
Monitoring trends and forecast economic developments
The need for statistical, economic and social data has never been so critical to understand the transformations the world is undergoing. Data Exchange solutions improve data accessibility and can be used to preserve economic sovereignty. Facilitating data circulation through trusted and secure data exchange environments enables the development of powerful use cases, among them:
- Governments can better compare the effectiveness of their public policies
- Economic trends can be better monitored, analyzed, and forecasted
- The interconnection with other data ecosystems allows building innovative policies through collaboration
Data Exchange, an integral part of the World Economic Forum Transformation Map
The World Economic Forum Global Future Council on Data Policy undertook the impressive work of mapping the forces that are transforming the data ecosystem. As a Tech Pioneer and member of the Global Future Council, Dawex was invited to deliver the Data Exchange perspective.
The need for exchanging data between public and private organizations has never been more crucial as it addresses business and societal challenges, reinforcing public-private partnerships to foster new cooperation power based on data circulation.
The benefits created by the circulation of data are infinite.
Gain insights into the role of data ecosystems in survival
In the 2022 MIT CDOIQ Symposium, the central role of data exchange in future economies was explored by experts representing world institutions, industry, infrastructure, and mobility. Tomoaki Nakanishi of the World Economic Forum discussed the critical nature of data for making the best decisions in all domains – environmental, economic, and social. Mr. Nakanishi and other panelists highlighted the importance of creating trust in data exchange in building resilience, especially relevant for developing and nascent economies.
