Regulating the titans: Should we rein in Big Tech?

Globally, there are growing calls for tech giants to be regulated and not have the unfettered control they currently possess. As expected, there are arguments both for and against, but to a considerable degree, much of the debate is occurring in developed countries. Developing countries also need to participate in those conversations. We discuss whether big tech should be regulated and how developing countries can ensure they have a seat at the table.

 

The digital age has ushered in an era of unparalleled innovation, but with it comes growing calls for the regulation of tech giants, which include household names such as Alphabet (Google), Amazon, Apple, Meta (Facebook), and Microsoft. These companies wield immense power over information and communication, resulting in concerns about privacy, competition, and the overall and long-term health of the digital landscape.

In recent years, there have been an increasing number of instances in which either tech giants have been forced to comply with certain rules or decisions that curb their power, or concerns have been raised about certain aspects of the digital environment and the need for greater caution.  Examples of the former abound including the European Union’s Digital Markets Act (DMA). The DMA came into effect in March 2024 and aims to curb the power of gatekeeper platforms like Alphabet, Amazon, Apple, ByteDance, Meta and Microsoft, and requires the companies to engage in fair practices, provide transparent access to services, and share data with business users. Regarding the latter, an example would include the call by the United States Surgeon General for a warning label to be included on social media platforms, similar to ones included on cigarettes and other tobacco products, to continue to bring awareness to the mental health crisis among the country’s youth (Source: New York Times). We can also consider the petition in 2023 requesting a moratorium on artificial intelligence (AI) development to manage the risks and develop the needed guidelines, as another example of efforts to try to allow regulation to catch up to technology.

But is regulation the answer? And if so, how can smaller, developing nations, such as those in the Caribbean, ensure we have a say in shaping these rules?

 

The case for regulation

Proponents of regulation argue that tech companies have become too big. Often, they are the most dominant players, which means that they not only control their respective market but also can stifle competition and innovation and control consumer behaviour.

Proponents of regulation also argue that anti-trust laws need to be modernised to prevent monopolies and ensure a level playing field for smaller players. User privacy is another major concern, with questions being raised about how the data collected by tech giants is being used and secured, and by whom. Regulations could mandate stricter data protection protocols and give users more control over their information.

Furthermore, the exponential growth in the spread of misinformation and hate speech online has ushered in some form of content moderation. However, striking a balance between free speech and content control is a delicate act. Regulation could help create frameworks for handling online content without censorship.

Finally, with internet access being declared a basic human right and integral to today’s society, it is increasingly being considered a utility. However, most of today’s internet infrastructure and service platforms are privately owned and controlled, which inherently means the priorities and imperatives of these businesses are that of the owners, and not necessarily the ‘greater good’ of their customers or mankind. Hence, another argument for regulation is to ensure that the needs of consumers and the wider society are the requirements to serve them well are factored in.

 

Arguments against regulation

On the other end of the spectrum, opponents of regulation fear it could stifle innovation and hinder the growth of the tech sector. To be fair, the rapid pace of tech advancement and innovation we have experienced in recent decades has been due in large part to private-sector investment and the prospect of exponential profits.

Further, this rapid pace of technological change makes regulation challenging as it is likely to become outdated quickly. At the same time, restrictive laws and regulations can not only stifle innovation but also the business environment, as complex rules can deter investment and competition.

Another concern is the potential for regulations to impinge on freedom of speech, consumer choice and other freedoms that we currently take for granted. In the case of freedom of speech, striking the right balance between content moderation and censorship is crucial. Nevertheless, regulations will need to be carefully crafted to avoid stifling online discourse or restricting other freedoms.

 

Ensuring a seat at the table for developing nations

For us in the Caribbean, much of the regulation so far has been happening ‘over there’, that is outside the region in the Global North. However, developing nations have a vested interest in tech regulation, especially since the internet and associated technologies have become key drivers of their economic and social development and are facilitating their continued relevance in the global society. However, our countries often lack the resources and infrastructure to compete with tech giants, are particularly vulnerable to data exploitation, and can be adversely affected by the rules imposed by the Global North. It is thus crucial for developing countries to have a say in shaping regulations: to ensure they are inclusive and address their specific concerns.

However, ensuring that we have a seat at the table of these global conversations is easier said than done. Often, we are constrained by our resources, and for example, cannot afford to travel to all of the far-flung locations where meetings are being held. Solving that issue may require some creative thinking, but below are additional things we can do to ensure that we have a seat at the table and can make valuable and relevant contributions to those discussions.  

First, foster regional collaboration. Although we in the Caribbean region appreciate the value of regional collaboration and the benefits of joining forces to have a stronger voice in international negotiations and global discussions, the efforts to deepen and strengthen existing groupings are continually being challenged. In addition to being more intentional about presenting a unified voice, we can also strengthen and leverage the commonalities we share with other regions, such as Small Island Developing States and as part of the Global South, to create a larger and more powerful voice on the global stage.

Further, we need to build our own expertise. All too often, we are consuming wholesale the narratives Silicon Valley and developed countries are publishing to suit their context and best interest.  To balance that messaging, we should also be investing in local tech talent and regulatory experts to help shape our thoughts on specific issues. Further, it is crucial that we understand what our specific needs and challenges might be so that we can ensure those concerns are addressed in regulation.

 

The road ahead

In summary, the debate over tech regulation is complex and constantly evolving. Finding the right balance between innovation, competition, and user protection will require careful consideration. Developing nations have a crucial role to play in shaping this future, but we must be proactive in ensuring that we are heard. By advocating for our interests and building strong negotiating positions, we can ensure a digital landscape that is fair, secure, inclusive and fosters innovation for all.

 

 

Image credit: herbinisaac (Pixabay)