USA: The European Union's forthcoming Digital Services Act (DSA) and Digital Markets Act (DMA) are poised to usher in a new era of governance for major technology companies within the region. The DSA aims to hold online platforms more accountable for the content they host, while the DMA seeks to curtail the dominance of Big Tech gatekeepers.

The DSA will require platforms to promptly remove illicit content and enhance transparency in content moderation. Additionally, users will gain greater control over their data, and transitioning to alternative platforms will be made more accessible.

On the other hand, the DMA will mandate gatekeepers like Google and Facebook to provide greater clarity on platform operations. This includes fostering more choice for businesses and users, while discouraging self-preferential treatment of their own offerings.

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Projected for enactment in 2024, the DSA and DMA represent the European Union's latest endeavors to regulate Big Tech. Complementing these acts is the Merger Control Regulation adopted in 2022, addressing the market influence of major tech players.

The forthcoming regulations are poised to significantly reshape the operations of Big Tech entities. Companies will be compelled to adapt their practices to adhere to the new standards, potentially resulting in increased operational costs and intensified competitive challenges.

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While the regulatory measures may pose challenges for tech giants, they hold potential advantages for users. The DSA and DMA could enhance the user experience by facilitating more efficient information retrieval, limiting exposure to harmful content, and offering greater data control. Moreover, users may find it easier to switch between platforms.

The DSA and DMA signify a pivotal juncture in the regulation of Big Tech. These acts constitute substantial legislative efforts aimed at addressing the influence wielded by major tech corporations, potentially engendering transformative shifts in their operations.

Key Transformations Introduced by the DSA and DMA:

The DSA mandates swifter removal of illegal content, encompassing hate speech, child sexual abuse material, and terrorist content. Enhanced transparency in content moderation and empowering users to control their displayed content are also stipulated.
The DMA obliges gatekeepers to enhance transparency regarding platform mechanisms, algorithmic operations, and content selection decisions. Furthermore, gatekeepers must refrain from favoring their own products and services.

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Businesses and users will gain expanded choices and capabilities. Businesses will be allowed to deploy their payment systems on platforms, while users can uninstall pre-installed applications.
While finalization of the DSA and DMA is ongoing, their anticipated enactment in 2024 will represent significant milestones in the EU's regulatory journey concerning Big Tech, with far-reaching consequences for the industry's modus operandi