Big Tech inquiry eyes cloud, competitors and the metaverse

Australian lawmakers will contemplate a brand new regulator, guidelines for algorithms and a lightweight contact strategy to the metaverse whereas “mapping” Big Tech over the subsequent 12 months. The main focus is squarely on the so-called ‘Big Five’ US corporations and their rising market energy and affect.

The 5 corporations – Google (Alphabet), Apple, Fb (Meta), Amazon and Microsoft – have a reported market capitalisation of practically AU$10 trillion {dollars}, and their platforms account for round half the time Australians spend on-line.

Senator Andrew Bragg, who will chair Senate Economics References Committee’s Big Tech inquiry, wants the Parliament to form a “stronger view” on the businesses’ affect as international locations world wide search to reign within the tech giants.

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