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Safety technology such as automatic emergency braking, blind-spot monitoring and forward collision-warning systems alert drivers of dangers with blaring buzzers, flashing lights and rumbling steering wheels and seats. It’s impressive technology that makes cars safer.

But for all the impressive engineering, there’s a bigger problem with all this modern technology in new cars. Namely, the complex software that connects vehicles to the internet, allowing car companies to gather vital data about drivers.

Nowadays, data is the new oil. It’s a commodity. There aren’t any rules on how and where it is being stored or used. But if big companies are going to gather and use that valuable data – shouldn’t they be paying for it? After all, they’re profiting from our personal information. We should get a cut of it, too. It’s our data – we own it. We should know how it is being used. In the future, we should think of data as a product that can be monetized, so we can all share in the wealth.

How much information is being collected in our cars while we’re driving? Think about it. Advanced safety systems use cameras, sensors and GPS systems to gather information about roads and obstacles in our path, but it’s also collecting data about the driver, their driving habits and driving routes. There’s also other data being collected – information on our contact lists and favorite music selections via our smartphones, synced to Apple CarPlay and Android Auto. Smartphone apps from Kia and GM let you lock and unlock our doors from anywhere in the world or remotely start your vehicle with the push of a few buttons on your phone. Ford, BMW and other automakers offer in-car roaming WiFi hotspots, allowing access to social media. Tesla has over-the-air software updates. Mercedes-Benz, BMW and Hyundai have their own in-car voice-activated personal assistants, while Lexus, Toyota and Ford use Amazon’s in-car Alexa voice command system to let you talk to your car and ask it to perform a number of tasks – everything from adjusting the temperature to changing the ambient lighting in the cabin’s interior.

Last year, at the international press launch of the 2019 Mercedes-Benz A-Class in Split, Croatia, I tested Mercedes-Benz’s new in-vehicle personal assistant, dubbed MBUX. Similar to Amazon’s Alexa, the Mercedes system supposedly understands multiple languages and natural speech. Say, for example, “Hey Mercedes, I’m cold,” and the temperature raises by one degree. It worked well when speaking English, but when asked similar commands in Italian, it didn’t do as well. After making a few cracks about its language barriers, the system responds back, “Now, now. Be nice!” It’s a bit alarming and uncomfortable to be scolded by a car. But even worse is having it listen to my personal conversation. Where’s my privacy? What’s happening to the data and personal information that’s being collected while I’m driving? Who owns it? Is it being shared with third parties?

Gone are the days of the Model T. Cars are becoming sophisticated computers on wheels. Modern cars have more than 100 sensors, generating significant data about our every move – where we shop, what we eat, the music we play, the routes we take – while automakers and tech companies such as Google, Apple and Amazon are profiting from it. They’re using voice, location and behavioural data to buy and sell ads, tailored specifically to target the right demographic and increase sales and profits. And all that information can be bundled and sold to third parties, like auto-insurance companies, to generate more money in the future.

Perhaps a data tax on a company’s gross revenues would do the trick. That’s what California Governor Gavin Newsom and state lawmakers are proposing with their “data dividend” plan, where tech companies would pay the state or consumers a fraction of the revenue made if their personal data is sold.

Last year, Facebook co-founder Chris Hughes compared the value of data with the value of labour in The Guardian. While a single person’s data isn’t worth much, a collection of it is. Hughes also suggested a data dividend model – something similar to Alaska’s Permanent Fund Dividend, which divides an equal portion of a tax on oil companies in the state to Alaskan residents. According to Hughes, it works out to roughly $1,500 per person a year. The fund has benefited the entire state and helped Alaska achieve one of the lowest levels of income equality in the U.S., according to the Gini Index, which measures income distribution to determine inequality. It’s a smart, bold move and one that automakers should consider in the future.

After all, why should only big tech companies and car companies profit from our data? We helped create their wealth. We should all benefit and reap the rewards of it, too.

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