“The Rising Wave of Tech Regulations in Europe”
The European Union has been actively working to regulate the booming technology sector over the past few years. Several landmark laws have been passed to curb the dominance of Big Tech while also protecting user rights and data privacy. Here is a brief overview of the top EU tech regulations currently in place.
The General Data Protection Regulation or GDPR was implemented in 2018, giving individuals more control over their personal information. Under this Act, any organisation handling EU citizens’ data must obtain clear consent for collecting and processing it. Citizens also have the right to request data deletion or portability. Non-compliance can result in hefty fines of up to 20 million Euros or 4% of annual global turnover.
In 2023, the Digital Markets Act (DMA) came into effect to ensure fair competition in the digital sphere. As per this law, gatekeepers like Apple, Google and Meta must follow certain obligations such as allowing alternative app stores and payment options on devices. Interoperability between services is also required to give users flexibility. Repeat violations can attract fines up to 20% of annual sales.
The Digital Services Act aims to establish a safer online environment through content regulation and algorithm transparency. It requires platforms to be more accountable for takedowns and have human oversight for AI systems. Very large online services must also undergo independent audits. Non-adherence could mean penalties up to 6% of yearly revenue.
Other recent additions are the EU AI Act regulating high-risk applications, and the ePrivacy Regulation update focussed on electronic communications. European policymakers are proactively legislating the tech space to balance innovation with user rights and competition.
