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Thursday, May 23, 2019

Tech Industry Regulation in the US Becomes Real


Regardless of whether major social media firms and tech companies enable these on board AI capabilities or not, it’s clear to me that we’ve reached a point in the US social consciousness that tech companies managing all this personal data need to be regulated. While I’ll be the first to admit that the slow-moving government regulatory process is ill-matched to the rapidly evolving tech industry, that’s still not an excuse for not doing anything. As a result, in 2019, I believe the first government regulations of the tech industry will be put into place, specifically around data privacy and disclosure rules.



It’s clear from the backlash that companies like Facebook have been receiving that many consumers are very concerned with how much data has been collected not only about their online activities, but their location, and many other very specific (and very private) aspects of their lives. Despite the companies’ claims that we gave over most all of this information willingly (thanks to the confusingly worded and never read license agreements), common sense tells us that the vast majority of us did not understand or know how the data was being analyzed and used.



Legislators from both parties recognize these concerns, and despite the highly polarized political climate, are likely going to easily agree to some kind of limitations on the type of data that’s collected, how it’s analyzed, and how it’s ultimately used. Whether the US builds on Europe’s GDPR regulations, the privacy laws instated in California last year, or something entirely different remains to be seen, but now that the value and potential impact of personal data has been made clear, there’s no doubt we will see laws that control the valued commodity that it is.


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