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Dr Okan Geray, Strategy Planning Advisor at the Smart Dubai Office (SDO), headed to Brussels, Belgium, to attend the third meeting of the Working Group on Data Economy, Commercialisation and Monetisation, which the United Nations’ International Telecommunication Union (ITU) had nominated him to co-chair back in July 2017.
The meeting, held on February 20-23, 2018, sought to look over the Group’s achievements and findings so far. Heading the Group allows Smart Dubai to address all aspects, challenges and opportunities related to the data economy, including value creation, stakeholder mapping, data policy and sustainability implications.
“The Working Group on Data Economy, Commercialisation and Monetisation is tasked with developing sound practices and policies to globally develop data economy rooted in data processing and management (DPM) technologies,” Dr Okan said. “Our objective is to boost data economy in a commercially feasible and profitable manner; otherwise, the benefits from advanced data technologies would remain very limited. We have a systematic and well-structured approach to our work, and we hope to eventually export these tactics to cities around the world, allowing them to commercialise their own DPM projects and build sophisticated smart cities and advanced knowledge economies.”
“The ITU’s decision to task the Smart Dubai Office with co-chairing this Working Group reflects our success in formulating and implementing effective data-related strategies and projects, as well as the growing global interest in Dubai as a hub for advanced technologies and an exemplary smart city,” he concluded
Dr Okan tackled the Data Economy subject from various angles, beginning with data-economy modelling and stakeholder identification to define business models, then moving on to data monetisation and commercialisation, before exploring the data economy’s impact and sustainability, and examining the regulatory and policy implications of the data economy, commercialisation, and monetisation.
The discussion then veered towards exploring the challenges of data commercialisation, where Dr Okan cautioned that though it may be too early to prescribe solutions for these challenges now, the Working Group will eventually address them with tailored recommendations as part of its ongoing work.
During his visit to the Belgian capital, Dr Okan Geray also attended a one-day workshop entitled: “First ITU Workshop on Data Processing and Management for IoT, and Smart Cities & Communities”. The workshop was co-hosted by the European Commission and Open & Agile Smart Cities (OASC), and held at the European Commission’s headquarters on Avenue de Beaulieu in Auderghem, a municipality located in the Brussels-Capital Region of Belgium.
The ITU Working Group on Data Economy, Commercialisation and Monetisation is part of the broader Focus Group on Data Processing and Management – a global initiative that seeks to address a spectrum of well-defined topics around data management. It is one of five working groups that have been assembled to carry out the Focus Group’s projects. The four remaining groups will tackle Data Use Cases, Requirements and Applications/Services; Data Privacy Management Framework, Architectures and Core Components; Data sharing, Interoperability and Blockchain; and, finally, Security, Privacy and Trust (including Governance).
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