Toward a Global Approach to Data in the Digital Age

Ongoing economic and financial digitalization is making individual data a key input and source of value for companies across sectors, from Big Tech and pharmaceuticals to manufacturers and financial services providers. Data on human behavior and choices—our “likes,” purchase patterns, locations, social activities, biometrics, and financing choices—are being generated, collected, stored, and processed at an unprecedented scale. The use of individual data and digital innovation can power productivity; increase access to finance; and promote trade, including of digital services, to the benefit of all. This Staff Discussion Note from the IMF argues that the rules and regulations governing access to this individual data are emerging as a new pillar of structural policies that matter for growth, equity, and financial stability.