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In Good Company with Nicolai Tangen

Commissioner Margrethe Vestager: EU’s Top Regulator on Big Tech, Competition, and the Future of AI

In Good Company with Nicolai Tangen

Norges Bank Investment Management

In Good Company, Business, Norges Bank, Nicolai Tangen

4.8186 Ratings

🗓️ 25 September 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

This week, Nicolai is joined by Margrethe Vestager, Europe’s leading enforcer of competition laws and the driving force behind high-profile cases against tech giants like Apple, Google and Meta. As European Commissioner for Competition, Vestager shares how her work shapes the digital economy, from ensuring fair competition to regulating the use of AI and digital services. She dives into the challenges of regulating Big Tech without stifling innovation and Europe’s need for strategic independence from global powers like China. Gain insights from Europe’s antitrust leader as she navigates regulation, global competition, and the rapidly evolving tech landscape.


In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management.

New episode out every Wednesday.


The production team for this episode includes PLAN-Bs Pål Huuse and Niklas Figenschau Johansen. Background research was conducted by Kristian Haga and Riga Tenzin.




Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

Hi everybody. Today we have a very special guest, Marguerite Westaga, who leads the European Commission for competition.

0:07.3

Now, Marguerite has spearheaded many antitrust cases against the most powerful companies in the world, including Apple, Microsoft, Alphabet, Amazon, meta.

0:16.4

And I'm sure, Marguerite, that all CEOs in the world get proper nerves when your name shows up in their inbox.

0:22.4

Big welcome to this podcast.

0:24.1

Well, thank you very much.

0:25.4

And, of course, I hope that they completely keep their calm because they like competition

0:29.4

and they know that they're on the right side of competition law.

0:32.8

There we go. Now, you have a very long title. What is your mandate? Well, basically, as you say,

0:48.0

I enforce European competition law, but also I have sort of a coordinating responsibility

0:54.0

for Europe making the best use of digital

0:57.5

technology. So making sure that technology serves people. And the tool to make that happen is,

1:04.4

of course, that you can trust technology. What is the aim of regulation? Well, I think that if you look at how Europe approaches new technology,

1:17.5

we tend to be more risk-averse than in other parts of our planet.

1:24.9

And for instance, our AI regulation.

1:27.4

The point of that is to make sure that we can trust

1:31.1

when AI is being used in a situation where it may be critical. If a municipality is using

1:39.5

AI to decide who can get a social benefit, then you really need to make sure that there is a human

1:46.2

in the loop and that you can trust the AI to get it right. And this is not theory because we have

1:51.0

had the first scandal. If you look at the piece of legislation like the Dental Services Act,

1:57.1

it obliges service providers to make sure that their services are safe.

2:03.0

That, for instance, Instagram cannot provoke mental illnesses, that TikTok or Twitter cannot

2:11.2

be used to undermine our democracy.

...

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