WASHINGTON — Meet the new wolves of ‘K Street’.
Ahead of tech executives from Facebook, Google, and Twitter heading to more hearings in front of the U.S. Senate, in this video Loup Ventures’ Gene Munster discusses what he expects to hear from these powerful companies.
What are their new agenda items, hidden or otherwise? Legacy policies have eroded, privacy is next to non-existent, artificial intelligence (Ai), social media, and search engine optimization (SEO) algorithms (“algos“) matter—regulations are inevitable.
M&A: A merger or an acquisition? How soon could artificial intelligence and machine learning subsume legislative processes and ‘become one’ with Federal, State, and Local lawmakers when governing bodies can no longer fully embrace software-defined ecosystems, cybersecurity challenges, nor keep pace with new technologies? ‘Swiping left‘ or ‘swiping right‘ for proposals, bills, and votes in near real-time are distinct possibilities with human-in-the-loop machine learning.
Bail-Out: Oversight committees and regulatory demands for discriminatory algorithms, pleas for open source software, or mandatory transparency for pseudo-code or source code will not bode very well for search engine and social media business models.
When industry’s “Secret Sauce” no longer remains secret nor immune from new laws and regulations, alternative value propositions will respectfully be requested from lawmakers and appropriators by lobbyists, stakeholders and shareholders in order for powerful applications and algorithms to preserve industrial dominance across all industry sectors.
Powerful trends toward digital transformation, end-user empowerment, and global policies such as the European Union’s (EU) General Data Protection Regulation (GDPR) are just the beginning.