By Jim Halcomb, Chief Research & Development Officer, EDM Association and Agnieszka Ablazej-Strandskov, Head of Data Strategy, Digital Isle of Man
Published on TDAN.com
In the 21st century, data is routinely described as the world’s most valuable resource — fuel for artificial intelligence, digital transformation, and modern innovation. In other words, data is power. Yet, despite its strategic importance, data remains curiously unaccounted for.
Unlike intellectual property or software, data lacks formal legal status, a universally accepted valuation method, and a consistent governance framework. This absence of recognition creates friction, legal ambiguity, and lost opportunity across industries.
The result is a structural limitation on innovation, investment, and trust in the data economy.
The Isle of Man’s Data Asset Foundations initiative aims to change that narrative. By establishing the world’s first statutory framework to define data as an asset and embed governance directly into law, the Data Asset Foundations’ program offers a playbook for how jurisdictions can unlock data’s full potential. The EDM Association plays a key role by providing data management expertise along with its globally adopted best practices frameworks to provide data best practices, structure, and governance to the program…
