Big Tech and regulation
Last week the American Federal Trade Commission (FTC) showed its teeth and this week it is the EU's turn. While the FTC mainly focuses on Facebook and may take steps to restrict the ubiquitous presence of this tech giant (there is even talk of splitting up the company), the EU may go even further. Under the umbrella of the Digital Services Act, which requires tech companies to share data they collect with competitors and allow competing products on their platforms, the contours of European legislation to curb the power of Big Tech are now emerging. to regulate better. An important and also more proactive step, which is preferable to the somewhat reactive practice of today.
As mentioned, the American FTC mainly made the news with its demand (which is supported by several states) that Facebook, among other things, give up Instagram and WhatsApp. This “market power” is also part of the new EU rules. Just as in Washington, people in Brussels are also convinced that a number of tech companies favor their own services (and source of income) to such an extent that there is now insufficient free market forces. And that is one of the pillars of doing business within the European Union. It has now become very difficult for newcomers to enter the digital market. And that is why the same rules must apply to digital markets as to traditional markets.
In addition to better regulation of digital markets, the EU's attention is also focused on increasing the responsibility that technology companies that operate platforms must take in making content available and distributing it. Recent years have shown that there is still profit to be made here and that this cannot be left to these companies alone. Better rules can help protect us against what you might call 'unwanted' content.
Of course, technology is necessary for progress. Our lives and our work would no longer be possible without all the technological innovations of recent years. If anything, they would be less easy and effective, and perhaps less fun. Unknowingly, we have become very dependent on the algorithms that these companies use. It is good to reflect on this and give organizations such as the EU and the FTC the space for a future in which the balance between Big Tech and the individual user is restored. A future in which data use, algorithms and other forms of artificial intelligence are used properly. And fortunately there are plenty of examples of this.
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