Cost of smart gadgets

Smart gadgets have become an everyday part of modern life, offering convenience and opportunities to enhance efficiency and innovation. But behind their sleek designs lies a growing concern: these devices are silently collecting personal data and turning it into corporate profit, while consumers bear both the financial and privacy costs.

These gadgets monitor daily routines, preferences, locations, purchases, and even health information. The data are then used to shape consumer behaviour through highly targeted advertising, often leading to unnecessary spending, impulsive buying, and long-term subscription commitments. Personal financial decisions are no longer fully independent, they are increasingly guided by invisible algorithms.

The economic impact is deeper than most realise. Working-class and middle-income families are most affected, spending more while unknowingly feeding data-driven marketing systems. Meanwhile, the profits from this data flow to major tech corporations, not to the individuals who generate it. Local businesses, unable to compete with the data-driven precision of global platforms, are pushed out of digital markets.

This growing imbalance must be addressed. Consumer protection laws need to recognise data as a valuable asset. Citizens deserve the right to control their digital footprint and share in the value it creates. Transparent data use policies, opt-out options, and fair digital trade regulations are long overdue.

Technology should support people, not exploit them. Economic justice in the digital age begins with protecting the value of personal data.

Yana Islam Rifa

Bachelor of Business Administration

North South University

yanaislamrifa@gmail.com