Abstract

The birth of the 5G telecommunication network laid a good foundation for driving the establishment of massive interconnectivity among IoT devices, which also coincided with the beginning of the Fourth Industrial Revolution (4IR). Such phenomena accelerated the creation of different innovative scenarios and deepen self-monitoring through smart algorithm analyses, as well as created high volume, high velocity, and high variety of data, further spurring relevant parties' interest in monetizing the data, especially the Telcos, where they see this as a new form of revenue through big data analytics. Through a systematic literature review following the PRISMA framework, this research represents one pioneer attempt to find out what impact Telco's data monetization of IoT systems has on data privacy regulation. It covers identifying potential data privacy regulatory challenges and potential solutions in the Telco IoTbased data monetization scenario through PESTLE analysis. Among the key findings indicated the challenges arising from the speed of various innovations in such a scenario outpacing the maturity of laws and regulations in regulating them. Further impacts, such as consistent re-evaluation of the data privacy boundary from data owners' perspective, are compulsory from time to time, and the Privacy-by-Design concept becomes a critical evaluation factor (in both business and technologies) across all applicable laws and regulations. Furthermore, the outcome of this research also pointed out the future directions for more in-depth applied data analytics studies of the potential emergence of new Telco IoT-based data monetization data privacy regulatory risks as the relevant technology innovations progress.