The implications are far-reaching. Big data will replace human judgement in many instances just as steam power replaced muscle in the industrial revolution. It will mean greater efficiency and new winners and losers—not just among companies, but countries too. Yet it presents new challenges: not only for privacy but for "propensity"— algorithms predicting our behavior before we've acted, be it to repay a loan or commit a crime. Ultimately, we need new institutions to shape how we introduce big data into society, since it will become the undergirding our world whether we like it or not.