After several probes and the public backlash, the leaders of tech giants have asked the governments to set up new laws. These top firms which represent global policymakers have an unusual message. Despite being antagonistic to the government, these firms want the government to regulate them.
The government has been carrying out antitrust investigations from these tech giants. Besides, there has been an increasing backlash due to the privacy and content monitoring of these firms. Due to these reasons, these firms want the government to come up with laws on the issues raised. However, some of the companies have evaded some of the rules that limit their activities.
Besides, these companies wanted to join the policy debate at the World Economic Forum held in Davos. Their aim of attending this meeting the realization that new regulations will be inevitable. According to Wall Street Journal, these firms want to direct the outcome to their favor. However, there is a wave of fear of the impact of the new regulations around the world. According to Microsoft CEO, the issues of national policy are not ideal for a democracy. It is a societal challenge that needs to be solved through legislative solutions. Besides, the CEOs of the companies can also come up with commendable answers.
Apple has been on the limelight since a pilot trainee shot and killed three people. The company has declined to provide the Department of Justice with a backdoor to access the phone of the shooter. Apple fears others can potentially manipulate the backdoor. Other big companies have supported Apple and have proposed legislative solutions. According to Apple CEO, there should be federal laws for consumer rights over their data. Mark Zuckerberg, Facebook CEO, on the other hand, has requested clear rules on online content. However, Mark endorses federal privacy legislation.
With regulatory battles in the US, Europe, and other countries, the executives of these companies agreed that they have to work together. Cooperation is the best approach to handling the regulations. The big companies have become so powerful currently. Some state and national governments have decided to scrutinize and act on the practices of these companies.
Tech companies may, over time, get the motivation to embrace regulations in private and AI. However, the big test is on their response to specific policy plans. According to Facebook’s vice president of global affairs and communications, the tech giants need to protect the customers.
https://www.wsj.com/articles/tech-giants-new-appeal-to-governments-please-regulate-us-11580126502
Dil Bole Oberoi
