It’s a new year yet – barring hastily-planned takeovers of democratic bastions – many of us are still following 2020’s script. COVID-19 continues to rage worldwide and technology has played a crucial role in helping us adapt to a normal that’s no longer new. In the first edition of ‘From the Hill’ for 2021, we look at some of the recent movements that big tech companies are making in the region and assess what regulators are doing to keep their influence in check.
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While a variety of innovations have emerged over the past decade to inch societies closer to a new economic age, 2020 was the watershed year to prove their long-term value. Indeed, advancements in online communication tools made it easier for many to adapt to remote working and learning measures, but is enough being done to safeguard this heightened level of technological reliance?
For one, although the pandemic reduced physical interactions all around, social media usage has been ramping up – even to the point that influencers are being placed on vaccine priority lists. However, with social media giants seeking to grow their influence in the region, prominent policymakers are calling for greater censures against the spread of misinformation online – an example being Philippine President Rodrigo Duterte’s ostensibly heroic escape from a dangerous ambush.
The battle between big tech and regional regulators is nothing new, but recent activities by homegrown players are raising more than a few eyebrows. News of a merger between Southeast Asia’s super-apps at the end of last year has rekindled interest from the region’s antitrust regulators, and so certain parties are considering less onerous avenues to consolidate their regional presence. Internet companies are stating their intent to gain footholds in key economic sectors such as financial services, as evidenced by one of the region’s leading homegrown tech companies assuming full control of an Indonesian bank.
The continued role of technology is no longer deniable. Yet, while for-profit tech companies will need to assuage regulators, consumers and investors alike of their movements, the ethical use of government-regulated technology services aimed at curbing COVID-19’s spread is also being called into question. As we continue with last year’s status quo, regulators in Southeast Asia will have their plates full in ensuring that our transition to the digital-first world is done fairly and ethically.
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