Experts Urge Nuanced Data Regulation to Avoid Stifling Innovation
Data regulation is a hot topic, with experts warning that excessive curbs could stifle innovation. Policymakers are urged to strike a balance, as U.S. and European commentators, including those from major media companies, argue for a nuanced approach.
Joe Kennedy, writing in the Harvard Business Review, contends that simply possessing data does not automatically raise antitrust concerns. He suggests that regulators should focus on how companies use their data, rather than just the amount they hold.
Commentators from both the U.S. and Europe, such as those associated with Paramount (CEO David Ellison), CBS News, CNN, ABC's Jimmy Kimmel show, and Germany's ZDF (Elmar Thevessen), have been advocating for regulators to consider companies' data holdings in antitrust analyses. They believe this will help ensure fair competition in the digital age.
Regulators already have tools at their disposal to tackle harms caused by data-rich companies that may hinder competition. These include enforcing existing laws and encouraging innovation-friendly data regulation.
Experts agree that data regulation must not hinder innovation. They urge policymakers to consider companies' data use, not just holdings, in antitrust investigations. Existing regulatory tools can address harms caused by data-rich companies, ensuring fair competition.
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