The fine print: Big tech on the hunt for private data

Big tech on the hunt for private data. Are current regulations tough enough to protect web users?

As technological advances such as artificial intelligence (AI), big data, robotics, and interconnected devices (often referred to as “the Internet of Things”) are becoming an integral part of our existence, they appear to exert a growing influence on the global economy. However, current regulations don’t seem to keep up with the rapid development of technology. As a result, the law is too lenient on big tech companies that tend to scorn the fundamental rights of their customers.

Occasionally, some of these companies get caught red-handed and face the consequences. In 2017 the European Commission imposed a penalty of €2.4 billion on Google and Alphabet[1], and the General Court upheld the fine[2]. Unfortunately, such actions often appear to have little influence on the companies’ behavior in the long run.

Currently, several instruments (such as the GDPR and the NIS directive) are at hand to ensure that fundamental rights are not neglected in the course of implementing information systems. Additionally, numerous private institutions develop codes of conduct, frameworks, and other soft law regulations applicable to AI robots and other technologies. We have even seen many scholars attempt to analyze the impact these instruments produce in the legal field and other disciplines. Still, studies on their economic ramifications and actual ability to shape the behavior of major players are scarce.

The GDPR establishes some penalties and fines for infringement of the provisions or failure to comply with the obligations established in it. Those fines could go from €10 million or 2% (whichever is higher)[3] to €20 million or 4% (again, whichever is higher)[4] of the total worldwide annual turnover.

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