Technology Vestager - Technology companies have to give insight into algorithms
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Brussels (Reuters) - According to EU competition commissioner Margrethe Vestager, the dominant technology giants should give a closer look at how they work.
"The largest platforms will have to provide more information about their algorithms if regulators request it," Vestager said at an event on Friday . This is likely to affect major US corporations in particular, such as the Alphabet subsidiary Google, Amazon, Apple and Facebook, which are based on huge amounts of data and operate lucrative advertising businesses. The algorithms help companies, among other things, to place targeted advertisements.
Vestager not only wants to find out more about the algorithms, but also wants to give regulators and market observers access to the advertising archives. Ultimately, it is a matter of companies being held accountable, she said. At the beginning of December, Vestager wants to present two rules for a so-called Basic Platform Act (Digital Services Act and the Digital Markets Act). It will take some time before these can come into force, however, as EU countries and the EU Parliament have to deal with them first.
The Technology 202: Expect more tech executive grillings in the next Congress .
Both parties plan to continue their political scrutiny of tech giants, but it's unclear where it will lead. Tech CEOs can expect more demands to appear on Capitol Hill in the next Congress.