Today the Senate has established an overdue, broad-ranging inquiry into the role of international Big Tech platforms in our society and our economy.
The Big Tech Inquiry will be conducted by the Senate Economics References Committee.
The major technology platforms have amassed more power than any other corporations in recent history. The “big five” international Big Tech platforms have more power than the railroads and oil tycoons of the Gilded Age.
Australia’s Parliament must form a stronger view on what the enormous concentration of power through vertical integration and meshing of hardware and software means for our country.
The Inquiry will look closely at the consolidation of platforms as well as the use of algorithms and how this affects the public interest.
Technology has delivered great benefits to Australians. It has been a great enabler of new services for all Australians. However, we must have the policy settings to protect users and ensure that Australians are not being exploited by possibly the strongest corporations in history.
We should embrace technology whilst seeking to manage the risks to our society and economy. This has been done in the past on matters such as media bargaining and online safety.
We should not seek to turn back the clock or descend into protectionism. Big Tech platforms can and should be our partners in protecting Australians and our interests.
02 6277 3479