India, Aug. 19 -- In 2006, Clive Humby, a mathematician and data scientist, delivered a talk titled "Data is the new oil". He emphasised that similar to oil, data is valuable, but only when refined and processed. When first coined, the metaphor highlighted the economic potential of data as a resource. While this remains relevant, the value of data has today expanded to become a strategic asset of national power and influence. Control over the collection, storage, processing, and flow of data is now fundamental to a nation's strategic sovereignty.

Algorithms, fuelled by vast datasets, shape nearly every aspect of our daily lives. They influence what we buy, how we commute, what food we order, what information we see on social media, and h...