Big Tech Inquiry Reports

The Senate Economics References Committee has handed down its Final Report on the Inquiry into the Influence of International Digital Platforms, otherwise known as the Big Tech Inquiry.

The Big Tech Inquiry was established to assess the role and influence that Big Tech companies have on our economy and society. These are some of the most powerful companies in history. With all Australians interacting with at least one Big Tech platform daily, it is important that regulations reflect this market concentration and influence.

They live under our roof, they must play by our rules. During our Inquiry, it became clear that the regulatory framework for Big Tech is no longer fit for purpose.

Today, the Senate has made 8 recommendations that provide a framework for regulating Big Tech in the same fashion we regulate other utilities, such as banks and telcos.

Chief amongst these is the introduction of a standalone regulatory body to coordinate Big Tech regulation. Having a coordination body will combat regulatory fragmentation, and ensure that regulators can keep up with Big Tech.

To give Australian tech the best chance of success, we have recommended a mandatory reporting scheme for self-preferencing conduct and the introduction of a dispute resolution regime. The current position is distorted and created an uneven playing field, with Big Tech stifling local innovation, with limited recourse.

We need to follow the lead of other jurisdictions and implement a pro- competition position that promotes local innovation and growth.

That’s why we have also recommended the unbundling of products and payment services. As Big Tech diversifies its activities, it is imperative that they are subjected to the same rules and regulations as other Australian companies.

We have also made recommendations to increase transparency around data and advertising. Specifically, we have recommended a right for individuals to delete data and for mandatory reporting of advertising data by Big Tech platforms.

These measures would give the individual back their autonomy over their data and give all of us a better understanding of how our data is being used. Big Tech is here to stay. Australia needs a way forward that recognises this reality along with the need to protect Australians. Our proposed regulatory framework achieves this balance. ‍

[Ends]