Digital Capitalism, Surveillance, and the Militarisation of Data

Data are no longer just the raw material of global markets — they have become strategic weapons shaping the future of conflict and security. The rise of digital capitalism has fused with defence priorities, transforming surveillance into a structural feature of both economic and military life. Information dominance is now as critical as territorial control once was, with doctrines such as JADC2 and the EU’s Strategic Compass embedding data at the heart of modern deterrence. This convergence signals the emergence of a new security-industrial complex, where the extraction, processing, and weaponisation of data generate both strategic advantage and financial opportunity. For governments, investing in secure infrastructures and predictive analytics is no longer optional but essential. For investors, the militarisation of data represents a structural growth sector at the intersection of defence and technology. The battlefield of the twenty-first century is not only physical but informational — and finance must adapt to this new terrain of power.