The European Commission has recommended a headstart into analysing the implications of technologies such as the metaverse and ChatGPT.
To be specific, Margrethe Vestager, the executive vice president of the European Commission for a Europe fit for the digital age emphasised that the region should adapt and react to new market dynamics in the digital era. During her keynote for the Keystone Conference, she talked about the digital transition and the shift to a digital economy, as well as the risks and opportunities that these shifts might present.
She highlighted that current legislation is falling behind technological advancements and that this could prove to be a valuable lesson for the future. As the legislative process is still likely to remain behind tech innovations, Vestager noted the importance of anticipating and planning for such changes.
In this context, she brought up the need to visualise how a healthy competition should look like in the metaverse while keeping a close look at technologies such as ChatGPT and how they may change the tech environment. In a more practical sense, the commissioner revealed that the European Commission plans to have a close look at Facebook and to enforce antitrust investigations starting with May 2023 aimed at the Facebook marketplace and how Meta uses ads-related data from rivals.