Data has long since become one of the most important economic assets. At the same time, it is difficult to determine its economic value, which depends to a large extent on how and for what purpose it is collected and processed. Artificial intelligence, the use of complex algorithms and big data offer a great deal of potential for turning this abstract economic asset into added value - both for the economy and for society in general. But with the advent of the digital age, new challenges and problems arise. These include not only practical hurdles and legal risks in managing data sets, but also ethical issues. It is precisely these issues that digital ethics, or data ethics, is concerned with. The fact is that the long list of data scandals in recent years has permanently shaken confidence in data processing by companies. It's no wonder, then, that calls for a secure and moral approach to our data are growing louder and louder. But what does this mean for companies?

Handling data: An ethical consideration

The growing sensitivity for data security and data protection does not remain without consequences for the business activities of companies - on the contrary: their success increasingly depends on how carefully they handle the data of their customers. After all, it is no longer just purely legal aspects that play a role in a company's own business practices. Rather, the question arises as to whether the business conduct as such is also justifiable from a moral point of view. After all, in order to earn money with customer data, customers must also disclose their data for business use. If customer data is understood as consideration for services rendered, companies quickly move into the ethical gray area - especially if users are not offered any alternatives. They are not always aware of the implications of the trade-off: the effects of the comprehensive linking and evaluation of data can hardly be comprehended by the person concerned. At the same time, data-based decision-making processes can also quickly have a detrimental effect on the individual, or even on society as a whole. So what should companies do to take care of data ethics?

Data ethics as a governance task

Despite all the gold-rush sentiment: companies must not lose sight of data ethics when it comes to digitization and automation and must develop sound guidelines to make ethical requirements an integral part of corporate practice. This makes data ethics a task for the governance function. The principles of ethical data use include, in particular, a transparent exchange about the ethical understanding and handling of ethical issues. For example, the use of algorithmic systems should not only be subject to a critical review for their potential harm, but should also be recognizable and openly communicated to those affected. It must also be possible to explain the results of artificial intelligence in a comprehensible way. Only in this way can it be ensured that the flood of sensitive data with which companies juggle in this day and age does not result in a torrent of moral condemnation.