The Australian Competition and Consumer Commission (ACCC) has published a report underscoring the need for regulatory reform in response to the expanding influence of digital platforms in emerging technologies and various markets.
The proposed reforms include targeted consumer protections and service-specific codes. Platforms like Amazon, Apple, Google, Meta, and Microsoft have expanded beyond their core offerings, such as search and social media, into other markets like generative AI. While the sheer size of digital platforms may not raise concern itself, the report highlights the risk that their expansion is driven by a desire to solidify or extend their market power.
