Ethics in Big Data is becoming a big deal in Russia

Participants in Russia’s emerging Big Data market, including the Internet Development Institute (IRI) and the Big Data Association (ABD) (which includes Yandex, the Group, Sberbank, Gazprombank, MegaFon and Rostelecom), have developed a self-regulatory ethics code that, in their opinion, will allow the industry to move forward and avoid any additional legislative restrictions; however, some insist that the industry needs regulation in order to protect citizens and safeguard against abuse.

Big Data market regulation is a hot topic currently being discussed by Russia’s parliament, especially as the market is expected to grow from RUB 10–30 billion per year to RUB 300 billion per year by 2024. A recent legal battle between VKontakte and the startup Double Data has highlighted the importance of resolving this issue in a way that is fair and ensures that sensitive information is protected while public information is available for companies to collect and analyze.