Good afternoon.
One of the things we've heard from many experts is that a lot of the issues that have happened with data were when the machine learning really came into force. There was an inflection point. Many experts agree that self-regulation is not viable anymore. Rules have to be in place. The business model just can't regulate itself, and it doesn't align with the public interest.
I have two points. My concern is that right now, we're a mature democracy. A lot of the countries represented around this table are mature democracies. My worry is for nascent democracies that are trying to elevate themselves but don't have the proper structure, regulation, education and efficiency in place, or a free or advanced press. There has been some suggestion that maybe this self-regulation should be internationalized, as with other products. Even though some countries may not have the ability to effectively regulate certain industries, the mature democracies could set a standard worldwide.
Would that be something that would be accepted, either through a WTO mechanism or some other international institution that's maybe set apart? Part of the conversation has been around the GDPR, but the GDPR is only for Europe. There are the American rules, the Canadian rules, the South Asian rules.... If there were one institution that governed everybody, there would be no confusion, wherever the platforms were doing business, because they would accede to one standard worldwide.