Monday, June 17, 2024

European Union Urges US to Implement Stricter Technology Regulations in Light of Concerns About Google, According to ET BrandEquity Reports

European Union and United States Join Forces to Implement New Tech Regulations: Industry Groups Express Concerns

Lobbying Groups Call for Fair Tech Rules to Protect Revenues and Innovation

A coalition of lobbying groups representing airlines, hotels, and retailers in Europe is banding together to voice their concerns over the potential impact of new tech regulations being implemented by the European Union. The groups, which include Airlines for Europe, Hotel group Hotrec, European Hotel Forum, EuroCommerce, Ecommerce Europe, and Independent Retail Europe, are urging EU tech regulators to consider their perspectives as these rules are being developed.

At the forefront of tech regulation in the EU is Industry Chief Thierry Breton, who has been pushing for new technology regulations to create a cohesive digital marketplace across the Atlantic. Laws like the Digital Markets Act (DMA) and the Artificial Intelligence (AI) Act are aimed at scrutinizing the practices of major tech companies and ensuring fair competition in the digital space.

The DMA imposes restrictions on tech giants like Google to provide users with more choice and support the growth of competitors in the market. However, the lobbying groups fear that these changes could have a negative impact on their revenues by giving preferential treatment to online intermediaries.

In a joint letter to EU Antitrust Chief Margrethe Vestager and Breton, the groups expressed their concerns about potential discrimination and the impact on direct sales revenues. Google, currently under investigation for possible breaches of the DMA, has not yet commented on the matter.

Breton emphasized the need for digital regulations in the United States to create a global digital market that is fair and competitive. Aligning values and regulations between the EU and the US is seen as crucial to fostering innovation and maintaining a level playing field in the digital marketplace.

The push for regulatory alignment between the EU and the US comes as concerns over the risks associated with advancing AI systems continue to grow. President Joe Biden has already taken steps to address these concerns with executive orders focusing on AI safety tests and guidelines to combat deepfake images.

Breton made these statements at the “Viva Technology” conference in Paris, where he addressed prominent tech executives and political figures. The call for fair tech rules is part of a broader effort to protect revenues, foster innovation, and ensure a balanced digital landscape for businesses and consumers alike.

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