What to expect from the Data (Usage and Access) Bill
Back in July 2024, data-oriented businesses were encouraged by the mention in the King’s Speech of a new Digital Information and Smart Data bill and the potential for the setting up of smart data schemes. In October, this legislation was introduced to Parliament as the Data (Use and Access) Bill (DUA). DUA represents a significant milestone in the advancement of smart data schemes and the mission of putting data to work for public good.
Despite a change in name, the core aims of the legislation have not changed. DUA aims to harness the power of data for economic growth by putting digital verification services and smart data schemes on a statutory footing, and will bring an estimated £10 billion boost to the economy over 10 years.
Creating smart data ecosystems
DUA aims to facilitate smart data sharing schemes with authorised third-parties.
Creating these data-sharing ecosystems throughout the economy and enabling digital identity verification is seen by many as crucial to generating economic growth. The bill introduces new obligations for businesses to share data under certain circumstances, such as public interest, (scientific) research purposes, and more. This will facilitate the integration of smart data schemes into various sectors, such as healthcare, education, and transportation, leading to improved services and efficiency.
Smart Data Foundry welcomes DUA’s proposals. Having worked closely with private-sector data partners, opening up de-identified financial data to the public sector, third-sector and academics, we understand the huge potential that this data has to be used for the good of society and facilitate policy makers, NGOs and public sector service providers to address critical socioeconomic challenges like poverty, inequality and economic wellbeing.
Take, for example, our work with local authorities, utilising private sector financial data alongside the authority’s own contextual data to understand the real impact of the cost of living crisis and the financial wellbeing of their communities in near real-time. This leads to more effective service delivery and enables councils to target advice and support before families reach crisis point.
Responsible data sharing
Privacy concerns are understandable, and for the public to trust smart data schemes organisations should be transparent about their data sharing practices, follow strict security protocols and respect individuals’ rights and privacy (e.g. only sharing de-identified data). Smart Data Foundry’s Trusted Research Environment (TRE) is bound by strict protocols, with access only granted to researchers with a clear and relevant need to access the data we hold.
However, part of responsible data sharing is communicating the value of sharing data. If the public are to be enthusiastic supporters of smart data schemes, they should clearly see the impact of the data being used.
The impact of smart data schemes
Through our work with the banking industry and charities like the Joseph Rowntree Foundation, we know how powerful having access to the right data can be when assessing the impact of inflation, income volatility and more on household finances.
Access to smart data helps policymakers, academics, service delivery experts and policy influencers to build an accurate picture of what is really happening in today’s Britain based on real time facts not out of date consumer surveys or forecasts. This results in more targeted, responsive and ultimately effective policy.
In summary
Ultimately, the Data (Usage and Access) Bill is not just a legislative measure but a catalyst for a more inclusive, secure, and innovative digital future, aligning with global efforts to harness the potential of data for societal benefit.
