Parmy Olson’s View to 2022: Big Tech Gets Regulated
(Bloomberg Opinion) --
What to Expect:
The year 2022 is shaping up to be one in which Big Tech sees a bigger clampdown than ever before from regulators, stemming attempts to grow into new markets and forcing redesigns of some of their most lucrative and addictive features. Most of the action will come from Europe. The U.K. will launch one of the most sweeping content policing laws outside China to force social media companies to stem hate speech and misinformation with its Online Safety Act. The European Union will follow with its own similar rules called the Digital Services Act, though it may take till 2023 to pass. Big Tech will also refrain from making as many killer acquisitions, knowing that European antitrust regulators, some emboldened by new powers, are more likely to clamp down on them. The U.K.'s decision to reverse Facebook's acquisition of Giphy at the tail end of 2021 was an omen of what's to come.
From the Year Behind Us:
It’s Awkward Being a Woman in the Metaverse: Meeting people in virtual reality is fun but messier than Mark Zuckerberg’s vision of the future. And beware foul-mouthed kids and the griefers.
How Frances Haugen Left Mark Zuckerberg Speechless: The whistleblower leaked tens of thousands of documents about the company’s algorithms. She could succeed where others have failed. It’s one of the most important moments in the history of the company now called Meta Platforms Inc..
For Tesla, Facebook and Others, AI’s Flaws Are Getting Harder to Ignore: Investors are pouring money into artificial intelligence, despite clear setbacks in self-driving cars, social media and even healthcare.
Much ‘Artificial Intelligence’ Is Still People Behind a Screen: Startups can rake in investment by hiding how their systems are powered by humans. But such secrecy can be exploitative.
Facial Recognition Has Its Limits. Just Ask the ‘Super-Recognizers’: An elite police team in London with the ability to recognize thousands of different people is outperforming the technology — for now.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
Parmy Olson is a Bloomberg Opinion columnist covering technology. She previously reported for the Wall Street Journal and Forbes and is the author of "We Are Anonymous."
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