Personalized content is highly valued among online users, according to consumer surveys. The problem with personalizing a web page is privacy threats, because of all the personal data that is collected on the consumer. Online privacy is a top concern for most consumer today. When we like a page on Facebook, later there are similar ads that pop up on our homepage. Some advertising agencies look for key words in things we post to social media sites, and then they post ads relating to our post on our home page. How is our privacy being kept private if this is happening?
According to Kobsa, "current privacy theory regards people's privacy-related behavior as the result of a situation-specific cost-benefit analysis, in which potential risks of disclosing one's personal information are weighed against potential benefits of disclosure". This is a problem because the general public is ignorant on what information is safe to give out, and what isn't. Always be careful to whom you give out your social security number, but did you know it can be just as detrimental to give out your full birthday too.
Forty countries already have privacy laws, but with technology advancing daily and custom personalization increasing I think that these laws should be re-evaluated every 5 years at least. This will potentially help protect consumers privacy. Educating the public on online privacy may to cut down on fraud.
The question I propose is: Will online privacy threats become the downfall for our economy?
I ask this because I believe that one day in the near future privacy will no longer exist. Consumers will no longer be able to purchase merchandise online without fraud occurring. This could deter future purchases and cripple the economy slightly.
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