FTC reportedly launches new office to keep up with big tech. the office in question is meant to help out the federal Trade Commission to fully grasp technologies as it continues to take on unlawful business practices.
FTC Reportedly Launches New Office to Keep Up With Big Tech
The US Federal Trade Commission launched a new Office of Technology on Friday to help strengthen its ability to “fully grasp” the rapid change of technologies in the digital marketplace and then support its policy and law enforcement efforts.
“The Office of Technology will boost the FTC’s expertise to help the agency achieve its mission of protecting consumers and promoting competition,” the agency in a release said.
The Role of the New Office of Technology
The office, however, plans to support investigations by the FTC into business practices as well as their associated technologies, provide technological expertise in regard to policy and research initiatives, and highlight market trends that impact their works.
The new office according to reports will be led by Chief Technology Officer Stephanie Nguyen. And although the focus of the office in question is technology, Nguyen revealed to The Washington Post that it will also be looking at wider sectors of the economy.
The FTC Early This Month Fined GoodRX $1.5 Million
You should however know that the new office will be reflecting the efforts of the FTC in recent years in taking on big tech firms such as Apple, Facebook, Amazon, Microsoft, and Google. The FTC in the early parts of this month fined GoodRX $1.5 million over allegations that the digital health company shared data of users with companies such as Facebook and Google without the consent of users which is an assertion that was pushed back at by the company.
The FTC also has challenged recent big-scale tech purchases such as Microsoft’s Activision deal, which is one the commission has said could be detrimental to competition.
The FTC’s Press Release about the New Development
“For more than a century, the FTC has worked to keep pace with new markets and ever-changing technologies by building internal expertise,” Lina Khan, Chair of FTC in the release stated. “Our office of technology is a natural next step in ensuring we have the in-house skills needed to fully grasp evolving technologies and market trends as we continue to tackle unlawful business practices and protect Americans.”