AGCM (Competition Authority and Market Authority) recently presented the balance sheet of the activity carried out during the past year, a report in which the Authority and its president, Roberto Rustichelli, wanted to underline some of the risks connected to an insufficiently controlled digitization and regulated.
Among the latter there would be an excessive concentration of information in the hands of a few companies, a phenomenon that the spread of Big Data it would be feeding exponentially. Such realities as Google, Facebook and Amazon would thus be acquiring an increasingly difficult power to limit even from a political and economic point of view.
The big companies of High Tech would also have the advantage of being able to operate simultaneously on different markets, this could represent an obstacle for free competition on the part of less structured subjects. In the future, and here the reference to Libra would appear clear, these multinationals could manage to control both social relations and economic dynamics in an increasingly pervasive way.
In the same way AGCOM would have asked for greater caution in assessing the impact of digital transformation, the fear is in fact that this phenomenon may prove to be exclusive if not governed. Among the sectors to be subjected to greater control there would be that of Fintech to prevent the creation of dominant positions contrary to market interests.
In these areas, and in the face of an increasingly widespread adoption of solutions for Artificial Intelligence, the AGCM hopes for a collaboration of all the member states of the European Union for the creation of the already planned Digital Single Market. This should facilitate the creation of innovative startups and maximize the utility of investments for the widest possible audience of companies.