Regulatory issues related to digital platforms: Competition, AI, et al.

Abstract:

Many economic forces have led to the creation of the dominant digital platforms, including Google, Amazon, Meta, Microsoft, and Apple (GAMMA). These have created challenges for regulating big tech, considering the economic, political, and social factors involved. In the economic sphere, the reinforcing effects of networks and big data give GAMMA an advantage over new entrants and smaller players. The rise of these players has coincided with a period of decline in US antitrust enforcement and regulation, beginning in the 1980s, though it has occasionally been interrupted by brief moments of resurgence. Other policy issues related to digital platforms have grown in economic and social importance in recent years, such as artificial intelligence, cryptocurrency, and online gambling. Together with social media, they are rapidly transforming America and the world.