Health Farm

-- Google’s set to stump up $USD2.1 billion to take ownership of your favourite wearable device company. What will they do with your data?

Frankly, some may wonder why it’s taken Google so long to get a slice of the action – the wearables market is set to treble in size to over $25 billion in the next five years, according to industry analyst firm CCS Insight.

Google’s device guy Rick Osterloh has made it clear the company isn’t there simply to make up the numbers, saying Google intends to further invest in “Wear OS” and introduce “Made by Google wearable devices.”

All that data must be irresistible

In the meantime, pundits remain wary of Google’s motivations. In fact, there are reports that unhappy Fitbit users have ditched their devices due to security concerns.

But hey, what’s a few disgruntled users when you can boost your advertising stocks with all that personal fitness data. And imagine the premium employers and health insurers will pay to access the data. Then what – a “pre-existing condition” torpedoes your promotion? An irregular heartbeat invalidates your cover for certain health events?

Health insurers are there already, with some, like UnitedHealthcare, promoting employer-sponsored plans offering discounted wearable trackers to help employees meet fitness goals.

Personal health data is gold, because it highlights chinks in your armour, your vulnerabilities, and the possible downsides for vested parties.

Something else to think about

Data collected by wearable devices often leaks out. Researchers have discovered that 70 per cent of third-party apps collect data that can then be used to create a profile of buying and spending habits.