[THE VIEW] The Wearable Market Is Now in the 'One Ring War'

From Healthcare to Easy Payments:
Smart Rings Like Apple Ring and Galaxy Ring
Still Falling Short on Personal Data Protection

The digital healthcare business, which provides real-time updates on my health status and assists in management through IT devices, has grown explosively. Initially, the trend shifted from smartphone application (app)-based models to smartwatches, and now the era of wearable smart rings, which are smaller and more convenient, has begun. Currently, Finland-based company Oura's Oura Ring has established itself as a market leader. Oura launched the Oura Ring in 2016, attracting attention as celebrities wore it. Apple has also announced plans to release the Apple Ring. Samsung recently unveiled the Galaxy Ring on the Samsung Galaxy series Unpacked stage.

Samsung, a big tech giant, aims to lead the wellness business through precise measurement of health indicators. The smart ring, worn on the finger like a ring, is lighter and less burdensome to wear, and can track everything from sleep to exercise, heart rate, and blood pressure. While smartwatches have the drawback of being difficult to wear continuously in daily life, smart rings are easier to wear all the time, allowing nearly continuous health tracking and more accurate analysis of health patterns. The ability to prepare for moments such as heart attacks or accidents through continuous wear is also an advancement over existing smartwatches.

The role of smart rings is expected to extend beyond health management. Samsung is expanding its scope and accelerating the development of smart rings that integrate additional functions alongside health management, and has already obtained patents related to a simple payment function that allows payments via smart rings. Competitor Apple is focusing on forming a vast Internet of Things (IoT) ecosystem by connecting its tablets and smartphones with the smart ring. This will enable users to operate a single integrated platform more quickly and easily.

While Samsung’s full-scale entry into the smart ring industry is expected to accelerate market growth, preparations for personal information protection are still insufficient. Since sensitive health information is handled, security needs to be further strengthened. Hackers can physically steal wearable devices or breach software and cloud systems to steal my information. If hackers get hold of such information, it can cause serious problems. My sleep data, exercise information, activity levels, location, as well as biometric authentication and credit information for payments could all be stolen at once. This is on a completely different level than simply having access to my payment information.

In response, wearable device manufacturers need to actively counter hacking by strengthening encryption and biometric authentication options and regularly performing data synchronization and encryption. Beyond technical protection enhancements, they must promote awareness of information protection through transparent communication with consumers. Consumers should be given the choice to set the scope of information sharing and be empowered to actively protect their personal information. As personal information protection laws regarding health data are being strengthened worldwide, including in North America, the need for thorough preparation in both technology and security aspects is increasing.

Kyung Na Kyung, Professor, Department of Computer Science, National University of Singapore

This content was produced with the assistance of AI translation services.