Ronald Goseco l August 26, 2022 l The Manila Times
FINEX recently held its 9th general membership meeting with the theme “Ethics and the Digital Economy.” Our guest speaker Allen Guo, the country head of Alibaba Cloud Intelligence, talked about applications developed by his company that enable us to live active digital lives. We had a panel of reactors that included Reynaldo Lugtu of Hungry Horse Workforce Consulting, who spoke about the ethical considerations that should be considered in digital transformation; Atty. Rose Marie King Dominguez of Sycip, Salazar, Hernandez and Gatmaitan, who discussed the legal principles that provide the guard rails for digital transactions; and Alvin Dave Pusing of PWC Isla Lipana & Co., who presented how we should be managing risks in today’s digital economy.
Guo talked about how various aspects of our lives were being enriched through technology. He illustrated how developments in cloud computing and recent lockdowns had led to the widespread adoption of technology, which irrevocably changed the way we conduct our businesses, participate in sports events and even enjoy concerts. He introduced us to the metaverse and how we could all be dealing with each other through avatars in the future. It seemed quite unreal, but he assured us that it was definitely coming soon.
It is quite evident that we all live in this parallel world. All of us have moved relationships online through chats, Viber, Messenger and other means of digital communication. We hardly saw each other physically over the last two years, yet we were able to share our data openly and express our opinions on everything that affected us. It is also clear that the widespread adoption of emerging technologies such as the Internet of Things and artificial intelligence have greatly improved the way we live. For many, it has provided shopping therapy and quenched spending appetites, made even more convenient through efficient online payments.
The positive potential of the digital economy is obvious. The instant access to information and global connectivity through portable devices became seamless but also raised a number of ethical and social issues. The proliferation of scams on the internet and rising cybercrime have transformed the digital economy into a new crime scene. Opportunities for hackers and cybercriminals to exploit individuals, companies, and government institutions have significantly increased over the past two years. Risks leading to data breaches that expose sensitive information — impacting business operations and brand image — are on the rise. This will continue to be a challenge as criminality in the digital world rises at the same pace as in the real world. Some even predict that it will rise even faster as more people transact digitally given continuing global restrictions and the apparent ease by which cyber criminals operate and escape through simple keyboard clicks.
All panelists shared the challenge of how to define ethical data use, to ensure that it does not violate people’s rights against discrimination, intrude on private space, and protect the sensitive aspects of lives. It is often said that if a product or service is offered for free then it is we or our personal data that is the product. The data collected through these means should be subjected to strict ethical standards.
Ethics in the digital world have been described as the shared values necessary for mutual understanding and harmonious relations. These are anchored on principles that have evolved many times and repeatedly rethought. Starting with the Greek philosophers who laid the foundations for justice, through Emmanuel Kant‘s doctrine that stems from the universal ethical principle that one should only act in accordance with rules that hold for everyone, and through utilitarianism that prescribes actions that maximize happiness and wellbeing for all affected individuals or the concept of the greater good for the greater number, ethical standards have been adjusted to suit what is relevant for the times.
Debate on the ethical issues in the digital universe will undoubtedly continue for many years as technologies continue to develop and are adopted by society. There is a growing concern that we need to reach a consensus quickly before technologies overtake us, as portrayed in science fiction movies where robots rule the world. It is important that key guiding principles and approaches are developed soon. Both the government and the private sector have to come together to determine how everyone should act responsibly in the digital world.
Regardless of the outcome of debates and discussions, Dominguez left us with the advice that as we accelerate moving business processes online, we must start behaving in the same manner as we should in the physical world and follow the golden rule, which is “to do unto others as you would like them to do unto you.” We should treat the personal data of others as we want them to treat our own. It is a simple and time-tested advice that we should take to heart. Aside from this, we should also ensure that we have up-to-date systems and strategies to predict, prevent, and counter rapidly evolving cyber attacks in this new crime scene.
*** Ronald Goseco is a Finex trustee. His opinions are his own and do not reflect the opinions of the organization or The Manila Times. Know more about #FINEXPhils through www.finex.org.ph.