With the existence of the internet more data has been created in the last 2 years than to have ever existed in 5000 years of humanity. The type of data being created year on year is increasing from structured data to unstructured. There is now a race for industries to capitalise on this new-found treasure.
Many say artificial intelligence is the key to utilising this explosion of data. But what does that mean for a consumer? How could that potentially affect everyday lives, for starters you could be bombarded with a lot more ‘targeted’ adverts. Have you ever wondered how one minute you’re browsing on Asos for a pair of shoes and the next you see the exact same pair along with all your other perusing on Facebook, YouTube and most likely every other website you visit for the next week. That is the result of data that companies now have access to, and will continue to gain control over, except soon it will all be automated and much smarter using AI.
So, is there such a thing as information overload? According to the field of computer science information overload is ‘described as the difficulty of understanding an issue and effectively making decisions when one has too much information about that issue.’Have you ever wondered why it takes you so long to decide which flight and hotel to pick for your next holiday, there are now so many options it has had an adverse effect on making better decisions as a human. Imagine you could get the best information, the best value for money, the most accurate and reliable information without having to be bombarded with an avalanche of result ‘hits’. We must draw a fine line between what and how much information is relevant to present without crossing the line of hiding too much information that leads to absence of information.
This problem is central to the existence of KludeOn, a company which aims to provide the best possible information for a consumer without overstepping a consumer’s privacy and being bombarded with nonsense adverts which not only creates pain for a consumer, but money to the retailer who is spending too much on ads that will never generate a sale.
There is a need to change the way we use this exponential data being created and how humans consume information from now.