ALIA NATIONAL SCHOOL

TERM 2 Physics Project (2025/2026)

Data is the new oil of the 21^st century and needs to be protected

 

Name: Yara Yousif Lori	Grade:12
Subjects: Economics and ICT	Teachers Name: Ms. Florence & Mr. Warren

 

 

 

Objectives:

1-Recognize how these ideas affect people and organizations in the digital age and why protecting sensitive and personal data depends on them.
2- Examine how financial institutions protect personal information.

3-Learn how artificial intelligence (AI) can improve security and stop fraud, especially in industries like banking and finance.

Introduction:

Businesses lost billions of dollars and suffered irreversible harm to their reputations as a result of the global data breaches that exposed over 30 billion records in 2023 alone. This startling statistic demonstrates the increasing susceptibility of data, the most precious resource of the modern day. Previously known as the "new oil," data is now the foundation of economies, influencing everything from social interactions to commercial choices. But as its significance grows, so does the necessity of safeguarding it. Protecting data from misuse, unauthorized access, and cyberattacks has become a top responsibility for governments, businesses, and individuals alike.

Define the term data privacy and data protection. Is privacy a part of data protection?

The term "data privacy" refers to a person's right to be in charge of their personal information and determine how, when, and why it may be used or shared. It focuses on how personal data is gathered, stored, and shared, making sure that it is managed with dignity and in accordance with the law and moral principles.
The methods, procedures, and practices used to safeguard data against loss, destruction, illegal access, and breaches are together referred to as data protection. It consists of organizational rules and technical tools including firewalls, encryption, and user authentication systems. Data protection includes privacy. The goal of privacy is to guarantee people's consent and control over the use of their personal information, whereas data protection guarantees the security and integrity of data.

 

Explain how and why personal data is protected in the financial sector?

Because of the sensitive nature of the information involved—bank accounts, transaction details, credit history, and personal identity information—personal data protection is essential in the financial sector. To prevent consumer data from being misused, stolen, or accessed by unauthorized parties, financial institutions adhere to strict rules, such as the General Data Protection Regulation (GDPR) in the EU. Trust: Consumers depend on financial organizations to safeguard their personal data. Losing the trust of customers could result from a breach. Regulatory Compliance: Financial institutions are subject to severe fines and legal repercussions if they do not adhere to stringent legal requirements. Fraud Prevention: By reducing the possibility of identity theft, account fraud, and financial scams, data protection makes sure that consumers' money and information are secure.

Discuss the importance of data analysis in growth marketing:

Because it allows companies to make data-driven decisions, data analysis is essential to growth marketing. For example, the Global Ice Cream Market registered a revenue of USD 62 billion in 2019. The benefits of data analysis are: Targeting: More accurate audience segmentation allows marketers to present offers and information that are tailored to each group.
Optimization: By using data-driven insights, marketers can make real-time campaign adjustments that increase conversion rates and return on investment.
Forecasting: Businesses may remain ahead of the competition by using data to predict future trends and client needs.

INFER- How can AI safeguard customer information in the banking sector?

AI can significantly contribute to the protection of consumer data in the banking industry by: Real-time Monitoring: AI is able to keep an eye on account activity and transactions in real-time, identifying odd trends that might point to fraud or illegal access. Biometric Security: AI-enabled voice, facial, and fingerprint recognition improves identification verification and lowers the possibility of identity theft. Automated Fraud Detection: By analyzing enormous volumes of data using machine learning algorithms, AI systems are able to spot possible fraud or questionable activity based on past trends. Predictive Security: By examining patterns in cyberattacks, AI can foresee security threats and modify defenses appropriately.

Knowing how to protect your privacy on social media?

It takes a mix of sound practices, configuring the right security settings, and exercising caution when sharing information on social media to protect your privacy. Modify privacy settings: To limit who may view your posts and personal data, go over and modify your privacy settings on each social networking site.
Use caution while disclosing personal information: Don't give away too many personal details, such as your home address, phone number, or bank account details. Employ secure passwords: For extra security, use two-factor authentication and create complicated passwords for your social media accounts.
Before posting, consider this: Posts can be screenshotted or shared with people outside of your immediate circle. Keep an eye on third-party apps: Examine the third-party apps and websites that are connected to your social media accounts.

 

Conclusion:

To sum up, data security and privacy are essential in the modern digital environment. Although privacy grants people authority over their personal data, protection guarantees that it is safe from abuse and security breaches. Data protection is crucial in industries like banking to uphold confidence and adhere to legal requirements. AI improves client security, particularly in banking, and data analysis propels growth marketing by streamlining tactics. Social media privacy protection is equally crucial for preventing dangers. Appropriate privacy safeguards and protection technologies are essential for a safe digital future as data continues to gain significance.

 

References:

1- OII | Data Protection Principles for the 21st Century: Revising the 1980 OECD Guidelines

2- Data Protection Law’s Leap into the 21st Century | HEC Paris

3- PRIVACY, CONFIDENCE & DATA PROTECTION IN THE 21ST CENTURY on JSTOR

4- Data Protection Principles for the 21st Century

5- Ice Cream Market Size, Trends, Industry Share Report to 2027