The Banking Executive Magazine - February 2025 Issue

Big Techs Policies and Threats INTRODUCTION The alignment of Meta Big Tech with MAGA, Donald Trump Make Amer- ica Great Again policy, entails poten- tials and threats to the global Big Tech industry and the Arab world. Moreover, the Davos 2025 World Economic Forum raised concerns about risks from Big Techs. This article considers the Big Tech policies and threats. Meta alignment with MAGA is analysed and its im- pact on the global tech industry is as- sessed. The article concludes with a brief overview of Big Techs horizon in the Arab world and a roadmap for Arab countries to support and de- velop Big Techs. BIG TECH POLICIES Big Tech policies are regulations and guidelines designed to address the influence and operations of large technology companies. These poli- cies aim to tackle issues such as competition, data privacy, content moderation, and market dominance. Big Tech policies include policies for promoting fair competition and pre- venting monopolistic practices, reg- ulations to protect user data and ensure transparency in how data is collected, used, and shared, guide- lines for managing harmful or mis- leading content on platforms to protect users and maintain a healthy digital environment, measures to promote innovation and competi- tion, and policies to reduce risks to the broader economy. Different regions, such as the Euro- pean Union, the United States, and China, have developed their own regulatory initiatives to support and control Big Techs. BIG TECH THREAT RAISED AT DAVOS 2025 At the World Economic Forum 2025 in Davos, the focus was on the trans- formative role of artificial intelli- gence (AI) and the growing complexities of cyberattacks. AI was hailed as a critical enabler of growth and efficiency, but also recognized as a double-edged sword due to its potential misuse. Leaders discussed the need for robust AI governance to prevent misuse. The discussions highlighted the increasing sophistica- tion of cyberattacks, with AI being used to automate attacks and create deepfakes. Organizations were urged to prioritize proactive AI security strategies. The UN's Global Digital Compact was mentioned as a frame- work for global governance of digital technology and AI. Overall, the dis- cussions at Davos 2025 underscored the urgent need for collaboration and proactive measures to address the threats posed by Big Tech and AI. META NEW POLICIES Meta, the parent company of Face- book and Instagram, has recently made several significant policy changes. It has decided to discon- tinue its diversity, equity, and inclu- sion (DEI) programs, citing changes ISSUE 194 FEBRUARY 2025 the BANKING EXECUTIVE 25