Surveillance capitalism is a term coined by Harvard professor Shoshana Zuboff. It describes a new form of capitalism that monetizes data acquired through surveillance. This economic system is based on the commodification of personal data with the core purpose of profit-making. Here’s a breakdown of its key characteristics:

1. Data Surveillance and Collection: Companies collect vast amounts of data on individuals through various technologies and interactions. This can be through social media, online searches, mobile apps, smart devices, and more. The data include personal details, behavior, choices, and even emotions.
2. Analysis and Profiling: The collected data is analyzed to create detailed profiles of individuals. These profiles help predict and influence behavior, preferences, and decisions. It’s not just about understanding what users do, but also about predicting what they will do next.
3. Behavior Modification: One of the more controversial aspects is the potential for this detailed knowledge to be used to influence and modify behavior. This can be seen in targeted advertising, personalized content feeds, and other methods that can subtly shape an individual’s actions and choices.
4. Economic Exploitation: The ultimate goal is economic gain. By understanding and influencing behavior, companies can sell more effectively, create new markets, and change consumer behavior to benefit their bottom line. Advertisers and other third parties often pay large sums for access to these insights.
5. Power Asymmetry: There is a significant power imbalance between the entities that collect and analyze the data (typically large corporations) and the individuals from whom the data is collected. This raises concerns about privacy, consent, and the lack of control individuals have over their personal information.
6. Legality and Ethics: Surveillance capitalism operates in a somewhat gray area of legality and ethics. While much of the data collection is technically legal, often enabled by user agreements and terms of service, there is an ongoing debate about whether these practices are ethical or whether they should be regulated more strictly.
7. Societal Impact: Critics argue that surveillance capitalism has broader effects on society, including undermining democratic processes (through manipulation of political advertising, for example) and exacerbating socioeconomic inequalities by enabling more granular discrimination against certain groups of people.

Surveillance capitalism is at the forefront of debates about privacy and the role of technology in society. It raises important questions about the future of personal autonomy in the digital age and has prompted calls for stricter data protection laws and ethical guidelines for the use of personal information.