BigTech's Efforts to Derail the AI Act

Dec 6, 2023 ·

Big Tech companies such as Google, Microsoft, and Facebook have recently made strong efforts to derail the American Innovation and Competition Act (AI Act), a bill introduced in 2019 that would regulate tech giants. The proposed AI Act seeks to strengthen antitrust laws to limit the power of these companies and protect competition by prohibiting them from using their data and algorithms to gain an unfair competitive advantage. These companies have lobbied hard and are now actively attempting to influence Congress to weaken or eliminate key provisions of the AI Act.

Google has spent over $20 million on lobbying against the AI Act, while Microsoft invested $12.3 million to influence Congress in 2020 alone. Facebook has put additional resources into its own lobbying campaign, spending over $17 million on lobbying over the last two years. The companies argue that the AI Act will stifle innovation, limit consumer choice, and hinder job creation.

At the same time, the AI Act has been supported by organizations such as the Open Markets Institute, the Electronic Frontier Foundation, and the American Economic Liberties Project, which believe that big tech companies should be held to the same standards of accountability as other industries. These groups argue that the AI Act would help level the playing field for small businesses and innovators, prevent Big Tech from using their market power to harm competition, and promote privacy and security.

In conclusion, Big Tech companies are making significant efforts to prevent the passage of the AI Act, which is intended to regulate their power and preserve competition. These companies are spending millions on lobbying campaigns and making arguments about the potential harms the AI Act could have. On the other hand, organizations like the Open Markets Institute are supporting the AI Act, arguing that it would provide much-needed oversight of big tech companies and ensure fair competition.