Daily Management Review

WEF: Big data regulation becomes a problem


Development of new technologies will not lead to technological unemployment, but workers and consumers will need new tools to protect their rights in order to resist manipulation attempts by corporations with increasingly large amounts of data. This issue has been widely discussed at the expert councils of the World Economic Forum (WEF) in Davos. At the same time, WEF experts recommend that regulators be flexible so as not to impede the introduction of new developments.

A two-day meeting of “councils of the future” ended in Dubai. The work of 38 councils was devoted to the implementation of individual technologies (artificial intelligence, 5G networks, biotechnology, etc.), key blocks and regulatory issues (in investment and trade, energy, urbanization, infrastructure, geopolitics) or individual countries and regions (including China, Europe, the EU, the Korean Peninsula).

The growing role of companies with large amounts of data was of particular concern to experts.

Analysis of consumer behavior allows building strategies that are addictive and allow manipulation. For example, technology already allows for non-obvious parameters (for example, how a person moves the mouse) to predict long-term user behavior. However, unlike doctors or lawyers who are obliged to act in the interests of patients and clients, technology companies so far only require consent to the disclosure of data. A code that establishes the priority of user interests can increase their responsibility, but the question of liability for violation of such norms is open. At the same time, the development of individual technologies requires not regional, but global regulation, since companies often do not have a national tie.

In order to keep pace with changes in the markets, regulators should work more actively with the main players and generally switch to more flexible models for introducing new rules (soft law). Otherwise the laws will fix outdated rules and prevent new developments. The leaders of such regulation are now considered Japan, Canada, Singapore, as well as the United Kingdom: in particular, there is an experiment on the provision of legal services using algorithms based on artificial intelligence (AI).

source: weforum.org