As the New EU Digital Services Act takes effect, big tech companies get ready
Major technology companies are now bound by stricter obligations in the European Union. The new regulations imposed by the European Union (EU) have come into effect this Friday. These rules are aimed at increasing oversight and accountability within the tech industry. These regulations are set to have a significant impact on how tech giants operate in the EU market.
A company like Amazon will now be responsible for the goods sold on its marketplace. The same applies to the Facebook marketplace place among others. If spurious goods are sold on the platform, they will be responsible for tracking down the suppliers and ensuring corrective action. Another such rule prevents such companies from selling goods to teenagers based on their usage data.
The EU has introduced a series of measures to ensure greater transparency and fairness. This is in response to growing concerns about data privacy, competition, and the power of these tech companies. This move is aimed at preventing anti-competitive practices and protecting user data.
Tech companies will be facing stricter rules on data sharing, enhanced user consent requirements, and measures to curb monopolistic behavior. These regulations may lead to adjustments in business models and operations for companies such as Google, Facebook, Amazon, and Apple, which have faced criticism for their dominance in the tech landscape.