Source: Nanyang Siang Pau
In this interview with a Malaysian newspaper, Nanyang Siang Pau, UM Rector Wei Zhao predicts that within the next five to ten years, physical products and services will undergo a very important change: they will become data-driven. As the ‘raw material’, data should be commercialised.
Rector Zhao believes that the big data era will be an era where ‘winners take it all’. Businesses in every industry must make sure that they do well not only domestically, but also internationally.
He points out that big data is only useful for rich people. This means free access to big data not only have the potential to harm public interest, but will also worsen the gap between the rich and the poor. Therefore, commercialisation of big data is the way to go.
However, three issues need to be addressed before the commercialisation of big data can be realised. The first is ensuring legal use of big data. The second is devising a way of measuring big data. The third is limiting the number of times big data can be copied through technical rather than legal means.
He adds that the data-driven industry is still in its infancy. Every country, regardless of their size, has an equal opportunity to develop this industry. And whether a country will thrive in the big data era will depend on whether it can cultivate talent in the fields of software and internet economy.
For the full version, please refer to the Chinese version.
