The Federal Trade Commission (FTC) has established an Office of Technology (OT), that aims to regulate the fast-moving tech world, as reported by TechCrunch.
Systemic Concerns
The FTC cited systemic concerns related to tech and how it can be used for abuse and fraud. Hence, their division will ensure the agency is protected at all costs.
Since the tech world is so diverse, it becomes challenging to regulate. Unfortunately, it can be a setting for bad behavior and regulation.
A lot of FTC issues require team members with tech expertise today, as realized by the agency due to rise of the surveillance economy, the widespread application of artificial intelligence of companies, and more.
Also read: FTC Peeks Into Microsoft's $68.7 B Acquisition of Activision, Asks for 'Additional Information'
Top Priority of Office of Technology
OT's top priority is to work with staff and leadership across the agency to strengthen and support the FTC on enforcement investigations and litigated cases. It will also stay on top on the pulse of business model change, such as digital advertising ecosystems shifts, that will help the FTC understand privacy, competition, and consumer protection implications.
The FTC Office of Technology Research and Investigation will help the agency stay on top of the latest tech trends and ensure that companies are abiding by the laws and regulations set forth. It will also help to ensure that the agency is able to be more proactive about guidelines and enforcement. By having a larger and more centralized effort, the FTC will be able to better protect consumers from any potential harm that may be caused by new technologies.
Furthermore, the office aims at guiding privacy protections by establishing enforceable rules regarding how companies collect personal information from their customers and what type of access should be given out in exchange for such data collection activities.
This includes developing guidelines around transparency about algorithmic decision making so that people understand why certain decisions were made based on collected user data - something which has been a major concern among tech giants like Facebook due its Cambridge Analytica scandal back in 2018.
Not the First Tech Department
Unbeknownst to some, the FTC already has a few tech-focused departments, such as the Division of Privacy and Identity Protection. But with the announcement of OT, it showed that the FTC saw that the agency needs a larger and more centralized effort to keep up with the latest trends and be more proactive about guidelines and enforcement.
The FTC's Office of Technology Research and Investigation is a welcome addition to the agency as it will help the FTC stay on top of the latest trends, analyze the data, and provide the agency with the insights and strategies needed to protect consumers, businesses, and markets.
With the help of OT, the FTC will be better equipped to handle the ever-evolving tech landscape and the implications it has for consumer protection, competition, and privacy.
Related article: FTC Warns Instagram Celebrities About Paid Ads: People Should Know Sponsored Posts Are Sponsored
