|Japan is imposing a regulations on big IT companies to regulate fair competition / Photo by Sergey Mastepanov via Shutterstock|
Many companies in the tech industry have amassed large amounts of data to further advance their technology and respective products and services. Japan has taken a stance on this and plans to impose its first regulations on these IT companies, focusing on issues such as the tech companies' grip on personal data, which has been thought to hamper fair competition in the industry. This proposal was included in a recent interim report regarding the dominant digital platform. The report was released a few days ago during a study panel that was formed by the Ministry of Economy, Trade and Industry, the Fair Trade Commission, and other groups.
This particular panel has been hard at work since earlier this year, analyzing and checking every single relevant complaint about Google, Apple, Facebook and Amazon, collectively known to the group as GAFA, and other large IT companies. This has been a main focus for the panel for quite some time, considering that a mound of security and privacy concerns have recently come to the forefront. As such, the tech industry received more scrutiny and focus by the panel. The panel members are expected to compile a final draft by the end of the year, and to start debating on regulations by January of 2019. The EU have also taken action regarding GAFA earlier this year, over similar issues with business practices and concerns. The Japanese government has yet to impose any regulations on these companies in the current time. However, ever since the market for technology began focusing on the personal data of Internet users, it has become a pressing concern they need to find a solution to.
Experts still are not certain how these IT companies have been using this data, however, Japan is expected to regulate this in the coming months.