Big Tech

Deborah James warns that the major technology companies are seeking favorable rules in World Trade Organization negotiations.

[T]he rules they are seeking go far beyond what most of us think of as “e-commerce.” Their top agenda is to ensure free ― for them ― access to the world’s most valuable resource ― the new oil, which is data. They want to be able to capture the billions of data points that we as digitally-connected humans produce on a daily basis, transfer the data wherever they want, and store them on servers in the United States. This would endanger privacy and data protections around the world, given the lack of legal protections on data in the US.

Then they can process data into intelligence, which can be packaged and sold to third parties for large profits, akin to monopoly rents. It is also the raw material for artificial intelligence, which is based on the massive accumulation of data in order to “train” algorithms to make decisions. In the economy of the future, whoever owns the data will dominate the market. These companies are already being widely criticized for their monopolistic and oligopolistic behaviors, which would be consolidated under these proposals.