As our dependency on devices grows, we may not be aware (or perhaps we are) of how much data our smartphones, connected products and apps collect on us. Those in the IoT space believe that recording, collecting and reading our actions—from where we go to what we buy—helps them develop more intelligent products, and a better consumer experience.

Many consumers would agree. But some do wonder how that data is stored and protected, and whether we have the option to, in essence, disappear. At a recent panel, "Drones, Wearables, IoT and Personal Privacy," hosted by the law firm Cowan, DeBaets, Abrahams & Sheppard, LLP along with Wise Public Relations, Inc, data, privacy and security experts debated this very topic on a balmy New York evening.

Moderated by GearBrain's Lauren Barack, the panelists—including Cowan, DeBaets, Abrahams & Sheppard, LLP's Joshua Sessler, Ready Set Rocket's Gareth Price, digi.me's James Pasquale, ProjectVRM's Sean Bohan and 4A Security & Compliance's Ben Goodman—mulled how to design products and apps that still respect personal privacy, ways consumers already protect their own data stream from third parties (Ad blockers anyone?), and potential new business models that find a balance between privacy and experience.