Market Overview

Getting Data Strategy Right is the Key to Canada's Digital Economy


Ottawa, ON, July 23, 2018 (GLOBE NEWSWIRE) -- The Information Technology Association of Canada (ITAC) today launched a new report that addresses the immediate need for a collaborative, modern, national data-driven strategy, and highlights unique opportunity for Canada to be a global leader.

The Report, developed in consultation with the Canadian information, communications and technology (ITC) industry, calls on the federal government to develop a balanced framework to data governance, one that establishes a value framework for data, encourages sharing and collaboration, and incentivizes innovation. ITAC recommends a principles-based approach, to develop a data-driven digital economy that maximizes the value of data for organizations and identifies priority areas for development in unlocking data to meet current and future needs.

In the Report, ITAC provides considerations for Government in developing a national strategy, including: Artificial Intelligence (AI), 5G networks, trans-border data flows, quantum computing, digital identities, data ownership; protectionism; and security and privacy.  

"Over the coming decade, data will be a crucial resource that defines Canada's collective economic opportunity; and, will enable technology companies to disrupt traditional industries in a way that modern economies have never seen," explains Robert Watson, president and CEO, ITAC. "This means that the federal government – in collaboration with industry – must take an immediate and coordinated approach to data governance in a way that ensures privacy, unlocks data for economic prosperity, and breaks down jurisdictional silos."

The Report also examines:  the role of the Canadian government; ways to build a value and intellectual property framework; current and future opportunities and challenges; and provides key considerations for government to contemplate in its effort to create a national, data-driven economic strategy.  Any strategy must recognize that Canada competes in a global digital marketplace and this data strategy can be leveraged to attract investment and allow Canadian firms to compete internationally.

"The Canadian ICT industry is rapidly outpacing government policies," added Watson. "Many of these policies are outdated and based on principles not for a digital but a physical or industrial age environment. Meanwhile, recent data breaches and use of citizens' data is also causing concern for individuals and businesses alike. So, what we should be asking ourselves, where is the balance, what is it that Canada can – and should do – to position our country globally as a data-driven digital economy?"

In response, The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development said "Unlocking the economic opportunities from digital transformation will help Canada's competitiveness, attract investment and create middle-class jobs from coast to coast to coast. I look forward to a national dialogue with ITAC and other organizations over the coming months as part of our National Consultation on Digital and Data Transformation where we will work with Canadians to ensure our success in a data-driven economy."

Janet Gibson Eichner
Information Technology Association of Canada

Primary Logo

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at