Changes in the economy, changing business strategies, innovative technologies, and international developments are main reasons behind the laws for consumer protection, and economic policies. The Federal Trade Commission is asking for commentary from consumers, commercial representatives, economists, legal representatives, academic members, and additional interested parties into relevant topics around it’s findings of consumer protection.
Between 15 and 20 sessions will occur starting September of 2018 till January 2019 in various locations across the country. Seperate comments for seperate topics are encouraged. The FTC’s mission is to encourage competition and provide for protection from consumers from deceptive and unfair trade practices. Market developments are found with substantial research, and encouraging the willingness of people to critically assess their work and develop avenues for improvement. Public comments will be accepted up through August 20, 2018.
Topics Of Regulation
Topics that are of interest or consideration by the FTC include those from this general list, or with relevance to a specific industry
- Health care
- The state of antitrust, consumer protection, and the development of, post Pitofsky hearings.
- Consumer welfare standard for antitrust enforcement, legal continued viability
- Market competitiveness, economic analysis, policy enforability
- Effects of past FTC enforcement decisions
- Market development
- B2B and B2C customer relationship
- International competition growth associated with Benefits and costs
- Review of FTC as an advisor and advocate for enforcement of competition and consumer protection agencies internationally.
- Issues in broadband internet service market access
- Competitiveness of networked industries contemporary practices
- Identification and measurement of market power and entry barriers and impact of “platform” businesses and it’s unique implications
- The crossing of privacy, big data, and competition
- Data as a competition dimension and as an entry barrier or expansion within a relevant market
- Competition between privacy and big data between app developers and social media companies
- The commission’s remedial authority
- Competitive effects of corporate acquisitions and mergers
- The role of intellectual property
- Artificial intelligence and algorithmic decision tools implications of consumer welfare
- Harmonization and Interpretation of state and federal statutes
- The agency’s processes of enforcement, investigation, and remedies
- And any other relevant subtopics to these.
Why It Is Important
Artificial Intelligence and algorithmic based decisions tools and software have been at the forefront of entrepreneurial interests, as they are the newest and most interest technologies available. These technologies are being integrated into exisiting systems and operations. The FTC and government agencies should remain informed as these technilogies slowly become saturated in market. Any regulations around these technologies can impact the opportunity to entrepreneurs who plan to use A.I. or Algorithm based decision technology in their value proposition.
The government has a decisive role in maintaining Competition and fair trade environment for commercial participants. It is important that relevant agencies make available to tthemselves the information they need to measure and control the effectiveness of their policies and practices.
Big data and privacy are problems out of a technology that started it’s adaptation in the 1990’s. These problems still exists today and security of information on the web is something achieved only at the frontier of the technologies. Privacy regulations are large barriers to entry and big data has allowed many companies competetive advantages.
It is important that the government watches the development and integration of these technologies as they impact privacy and acceptable data use around customers data. Government regulations stop companies from having disproportionate bargaining power over consumers.
This is a commentary on regulation, please conduct further research into regulation.
We start from modest beginnings but continue to identify, develop, and research opportunity and strategy for entrepreneurs, to better develop business ideas.