Emerging AI Will Drive The Next Wave Of Big Tech Monopolies

In October 2020 the US House Antitrust Subcommittee, chaired by Congressman David Cicilline, published its report on competition in digital markets. It conducted a full review of the market from top to bottom, focusing on the dominance of the giants in the industry: Facebook, Amazon, Apple and Google. The report zeroes in on their business practices, and how these could potentially amount to monopolies. They found that each platform had become, in one way or another, in direct and singular control of channels of mass distribution. They are no longer disruptive and innovative start-ups, but now resemble business monoliths akin to the oil barons and railroad tycoons of the past, controlling their respective industries, absorbing or removing competitors with ease.