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Big tech and AI companies are under increasing scrutiny. global regulators. It highlights notable examples of regulatory action, the motivations driving greater oversight, and the potential impact on the future of the technology.
Significant changes in the regulatory environment will be observed globally through 2024. The era of technological exceptionalism, when the application of legal regulations seemed limited, is coming to an end. The assumption that laws and regulations cannot keep up with the rapid advancement of technological innovation is being debunked.
“In the face of rapid technological advancement, regulators around the world are strengthening and asserting their authority over large technology and AI companies.”
America’s Changing Tide
In the United States, the lack of a federal privacy law has forced regulators to change existing laws to address the most blatant examples of big tech companies misusing personal data and violating consumer rights. teaUS Federal Trade Commission (FTC) has been particularly active in expanding the regulatory power of consumer protection regulations.
In a landmark case, the FTC fined Fortnite maker Epic Games $500 million for its deceptive use of dark patterns, a design strategy used by apps and websites to manipulate users into unintended actions. Amazon has also been severely punished for serious privacy violations involving its Alexa and Ring doorbell devices. The FTC’s assertive stance is expected to continue as new regulations are introduced to regulate commercial surveillance and digital security.
Regulatory measures around the world
The FTC’s success inspires regulators in other parts of the world to follow suit. for example, French Data Protection Authority (Seenil) fined Clearview AI a record 20 million euros for failing to comply with a 2021 ruling ordering the company to stop collecting and using data from French citizens.
Meanwhile, OpenAI’s CEO Sam AltmanWe started 2023 by advocating for . Global AI Regulations. But he did not agree with that opinion. i act, a proposed regulation in Europe. In response, Italian regulators used existing regulations to suspend ChatGPT’s operations, albeit temporarily. Ongoing intellectual property litigation, such as the one against Microsoft, further hints at the turbulent future of generative AI business models.
Consider social impact
The focus of regulators is not limited to the individual impacts of technologies. In 2024, there will be an increasing emphasis on understanding wider societal, market and business impacts. For example, antitrust actions starting in the U.S. and EU in 2023 will challenge Google’s dominance in the ad tech market, potentially shaking the foundations of the programmatic advertising model that has largely shaped the internet as we know it.
End of the regulatory gap
The regulatory vacuum that big tech companies have enjoyed for a long time appears to be nearing an end. The following new laws AI law, Digital Services Actand Digital Market Act In the EU, courts and regulators continue to adapt existing laws to the new ways in which technology affects our daily lives.
A variety of legal tools are being adopted to address real harms caused by technologies, including AI, including human rights and civil liberties law, competition law, consumer rights law, intellectual property, defamation, tort and employment law. The beginning of regulatory oversight of big tech companies marks a significant shift in the landscape that promises a future where technological innovation is balanced with protections for individual rights and social well-being.
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