By Brad Stone
It turns out that Isaac Asimov’s Three Laws of Robotics weren’t only a memorable science-fiction trope. In perhaps the least jaw-dropping news amid the insanity of last week, the legal affairs committee of the European Parliament proposed rules recommending that robots should have the same legal stature as humans and mandating that manufacturers install a “kill switch” in autonomous machines to prevent them from harming people.
Like many of Brussels’s legislative reveries, the rules, inspired in part by Asimov, may never go into effect. But they do at least reflect an effort to contend with the coming impact of capable, sentient robots. The committee also suggested that European countries introduce a universal basic income for people who are displaced by machines. Several Silicon Valley luminaries have publicly explored the idea of guaranteeing people a basic living, so it’s fascinating to see the notion take hold in Europe.
It’s been Europe, not the U.S., grappling with the growing impact of technology and of the dominant tech companies controlling ever-larger swaths of our lives.
It’s also predictable. Over the last few years, it’s been Europe, not the U.S., grappling with the growing impact of technology and of the dominant tech companies controlling ever-larger swaths of our lives. Whether it’s the EU’s data protection requirements or efforts to curb Google, Europe went far beyond the tech-friendly Obama administration in checking the power of Big Tech. And now, with Donald Trump four days from taking office, that dynamic seems unlikely to change.
We don’t know how exactly the incoming president will approach the tech industry. Tech companies and their lobbyists are still puzzling over years’ worth of tweets, campaign promises and the various grudges held by the new commander-in-chief. “Generally speaking, anyone who tells you they know is lying,” says Bradley Tusk, CEO of Tusk Strategies and former mayoral campaign manager for Michael Bloomberg, the founder and majority owner of Bloomberg LP. “Nothing expected to date has happened.”
But the best bet right now is that Trump will take a hands-off approach to tech and even make some changes that are favorable for the industry, like lowering the corporate tax rate and allowing tech companies to more cheaply repatriate overseas capital, perhaps sparking a flood of initial public offerings in the process. Even on immigration, Trump may surprise the industry; his advisors are reportedly considering reforming the H-1B visa program by tilting it in favor of the high-salaried jobs offered by tech companies.
On antitrust, Trump will certainly take a less aggressive stance than was likely under Hillary Clinton, who veered to the left during her primary battle with Bernie Sanders. Trump reportedly opposes the proposed merger between AT&T and Time Warner, but when he met with AT&T’s CEO last Thursday, the telecom’s CEO says the topic didn’t even come up. Perhaps his administration will approve the merger but require the combined company to spin out his news nemesis, CNN.
On transportation, incoming secretary Elaine Chao said during her confirmation hearing last week that she is a fan of autonomous cars and drones and wants to see testing continue unfettered. Wired reported that the testimony likely left driverless car and advocates “quietly cheering.”
There’s also bright news for peer-to-peer lending firms like Lending Club. The Consumer Financial Protection Bureau, which regulates the industry, could be one of Trump’s early targets. The administration could try to scale back the agency’s authority, require it to consult the White House or provoke a legal quagmire by firing its director Richard Cordray, according to Bloomberg View columnist Cass Sunstein.
All this should cheer the tech industry but unsettle anyone who wants to see the U.S. government limit its power. If they don’t like it, there’s always Europe. I hear the robots are friendlier there.
This originally appeared in Bloomberg Technology’s newsletter Fully Charged. Sign up here.
