Russia’s Sberbank CEO says IoT to break into personal data

ANOSINO, Moscow Region, Oct 28 (PRIME) – About 20 billion objects will be connected to the Internet in the world in 2020 meaning an unavoidable intrusion into people’s personal data, German Gref, head of Russia’s biggest bank Sberbank, said on Friday.

“Each of these things will generate data every second. It certainly means that we’ll live in a completely different world. The question is how we will exist in this world in the climate of an absolute exposure to which we are not ready,” Gref said.

“We say that the state, companies interfere with our personal life; we craft laws to protect personal data, but we see it’s already in the past. It’s impossible to abort intrusion into personal data; it will happen without fail, the world will be dramatically exposed. Should we fight against it or should we live with it; that’s the question.”

The main problem companies will face in the next five years is a search of promising employees, that is why Russia should revise its employment concept as many people can lose their jobs with the emergence of new technologies, Gref said.

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