The cat is out of the bag. Information technology makes this data accumulation inevitable. Likely even for those who walk around with a face covering all day, pay only cash, and don't use smartphones. By doing those things you actually make yourself more noticeable, in a lot of ways, and are still trackable.
There are some cryptoanarchist ways to achieve practical privacy, to all but the most dedicated governments. Yet, those technologies have severe downsides for both individuals and society at large.
There's no obvious way out of this conundrum. The concept of the Participatory Panopticon is one proposed solution, and is less top-down, but not necessarily any less capricious than centralized authority.
The best safeguards are to create strong institutions, informed citizens, stable economies, and all the usual boring social reform stuff that tech geeks hate and think is mushy, unchangeable, hard to study, and likely irrelevant.