Data-Rich Companies Not a Threat to Competition, Consumer Privacy, Says ITIF Report
Some experts argue for more antitrust scrutiny of data-rich companies because they may gain an unfair market advantage and risk privacy, but an Information Technology and Innovation Foundation report released Monday said existing authority is enough to address any abuses.…
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ITIF Senior Fellow Joe Kennedy, the report's author, said collection of vast amounts of data doesn't by itself threaten competition. Data use in specific circumstances might require regulatory intervention, he said, but large amounts of data are a "vital input" for digital assistants, medical diagnoses, online platforms and other innovations. In the 34-page report, Kennedy discounted concerns from some legal experts and policy activists that consumers' privacy will be hurt. He said consumers have a "lax attitude" toward privacy because they share a lot of personal information online even though they say they want more privacy. He said consumer protection agencies have sufficient power to ensure companies' promises to uphold their data policies and enforce data misuse.