‘Big tech’ faces tighter rules across multiple areas

Subject

Regulations for technology firms.

Significance

Following numerous high-profile public scandals involving ‘big tech’, policies worldwide are slowly shifting from a laissez-faire approach towards active regulation.

Impacts

• Taken together, the regulatory tightening could dampen the profitability of major US tech firms.
• Public opinion is shifting towards regulation as various privacy and governance failures of technology platforms become apparent.
• New, untested regulation for uncertain harms can also be dangerous, with unintended side effects for freedom of expression and innovation.
• Serious action from the US Federal Trade Commission would limit the damage of European regulations for US firms on transatlantic ties.
• India is emerging as one of the most active regulatory jurisdictions for big tech among developing countries.