The value of your digital identity
July 7, 2015 § Leave a comment
“Digital identity” by definition is the sum of all digitally available information about an individual. Recently, several of my friends purchased the new Apple Watch. I like many of the (505 million) iPhone users will likely purchase the watch later this year. I’m an original Fitbit person, so making the switch might take some time. Increasingly in our digital culture, personal data is becoming the new form of currency. With the introductions of the iPhone, Apple Pay, and Apple Watch these products enable data collection across many categories including Health & Fitness, Lifestyle, Social Networking, Productivity, News, Business, Finance, Games, Travel, Food & Drink, and (even-more) of my transactional data based on using “Apple Pay”. The growth of new data sources like social media (it’s estimated a quarter of the world’s population will be members of online social networks by the end of 2015), online transactions, in-product sensors (IoT), and digital media got me thinking about what’s the real value of our digital identity? More importantly, in the near future how will our digital identities enable businesses to better create more personalized products, applications, and services designed to improve our life? I have included several examples that provide innovative personalized services based on your digital identity:
Actual behavior based insurance policies: with the emergence of mobile devices capable of transmitting location and usage data this is allowing insurance companies to offer a variety of new services based on actual instead of predicted behavior.
Personalized automobile systems: Car manufacturers routinely incorporate digital sensors in their cars to monitor vehicle systems to enhance performance and troubleshoot issues. Many are starting to offer subscription based services that integrate sensors with personalized services.
Continuous Glucose Monitoring: Current solutions on the market consist of a small disposable sensor inserted into your skin, a transmitter connected to the sensor wirelessly transmits results to a receiver displaying real-time results improving the quality of life for patients.
We are just starting to realize the benefits of our digital identities. In the near future this new form of currency is going to become increasing valuable enabling each of us to have access to personalized services including Ambient Assisted Living (AAL). I look forward to posting on this topic in the coming weeks. RH