Big Tech Watchdogs Are In For Regulatory Empowerment And Big Tech's Help For Regulating AI
Portfolio Pulse from Upwallstreet
The EU Commission is introducing new rules to empower regulators in their investigations of Big Tech companies, aiming to harmonize regulatory procedures and deliver resolutions quickly. Big Tech companies, including Microsoft, Google, and IBM, have asked lawmakers to oversee AI to ensure safety and competitiveness with China. The new rules have been criticized for being flawed and not ensuring the enforcement of rules. Big Tech is also working with lawmakers on the upcoming AI Act, offering their expertise and suggestions for AI regulation.
July 12, 2023 | 2:12 pm
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NEGATIVE IMPACT
Meta Platforms has been criticized for privacy breaches. The new EU regulations could potentially increase scrutiny on the company and negatively impact its public image.
Meta Platforms has been criticized for privacy breaches. The new EU regulations could potentially increase scrutiny on the company and negatively impact its public image and stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Google, owned by Alphabet Inc, has asked lawmakers to oversee AI. This could potentially improve its public image and relations with regulators.
Google's request for lawmakers to oversee AI could potentially improve its public image and relations with regulators. This could have a positive impact on its stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Microsoft has backed the new EU regulations and has offered its expertise in AI regulation. The company's stance could potentially improve its public image and relations with regulators.
Microsoft's support for the new regulations and its proactive stance in offering its expertise in AI regulation could potentially improve its public image and relations with regulators. This could have a positive impact on its stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla CEO Elon Musk has been working with regulatory watchdogs, offering the company’s software expertise as input to AI regulators. This could potentially improve Tesla's public image and relations with regulators.
Tesla's proactive stance in offering its software expertise to AI regulators could potentially improve its public image and relations with regulators. This could have a positive impact on its stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70