Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division, FTC Chair Lina M. Khan, and European Commission Executive Vice President Margrethe Vestager convened in Washington, D.C., for the fourth U.S.-EU Joint Technology Competition Policy Dialogue (TCPD) on Apr 11, 2024.
During the meeting, Kanter emphasized the challenges posed by data monopolies and artificial intelligence, stating, "The growth of data monopolies and the rapid expansion of artificial intelligence expand the competitive threats we face from dominant digital gatekeepers."
Kanter also highlighted the importance of global cooperation, stating, "Exchanging best practices with our global counterparts helps us to more effectively serve the American people, and we deeply appreciate the European Commission's continued engagement through the TCPD."
FTC Chair Lina M. Khan stressed the critical nature of sharing best practices internationally, especially in light of the rapid advancements in AI and algorithmic decision-making tools. She stated, "As businesses move at breakneck speed to build and monetize AI and algorithmic decision-making tools, engaging with our international partners and sharing best practices will be especially critical."
European Commission Executive Vice President Margrethe Vestager echoed the sentiment of strengthening cooperation in competition policy and enforcement in the technology sector, saying, "With today’s meeting, we have further strengthened our cooperation in competition policy and enforcement in the technology area." Vestager also emphasized the need to address global challenges such as artificial intelligence and cloud computing through close collaboration.
The discussion at the meeting focused on challenges related to rapidly evolving technologies in the digital sector, such as artificial intelligence, and the importance of adapting merger control for a digitalized economy. The agencies reiterated the significance of ongoing dialogues within the TCPD to ensure and promote fair competition in the technology sector.
The TCPD was launched on Dec 7, 2021, by the Justice Department, FTC, and European Commission to enhance transatlantic cooperation on competition policy and enforcement in the digital sector. The initiative aims to address common challenges faced by the authorities and promote fair competition in the technology sector.
