New technologies | The G7 multinationals are calling for more coordination

(New York) A group of 25 multinational companies from different countries and industries, including MasterCard, IBM, Engie, Toyota and Softbank, on Monday called on the Group of Seven to create a new entity to coordinate its approach to new technologies and cybersecurity for data flow.


France Media

It can take inspiration from the Financial Stability Board (FSB) established by the Group of Seven after the 2007-2009 financial crisis to help identify weaknesses in the global financial system and promote a common approach, the companies suggested in a joint letter that MasterCard sent to AFP.

Autonomous vehicles, artificial intelligence, 5G, or robots can boost growth and quality of life but also lead to multiple risks such as data breaches and raise questions about privacy respect or algorithm bias, as they justify it.

“In response to these concerns, some governments rush to issue new regulations, often without sufficient experience or input from civil society or coordination with other governments,” and they lamented for fear of “fragmented regulation”.

European justice, for example, last July revoked a critical mechanism for transferring personal data from the European Union to the United States, the “Privacy Shield,” due to concerns about Americans’ surveillance programs.

In this context, the 25 multinational companies that signed the speech invite the group of industrialized nations that currently includes the United Kingdom, France, Germany, Italy, Canada, the United States and Japan to take the lead and initiate the upcoming G7 summit. , Create a “data and technology forum” in an effort to coordinate their policies.

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Michael Froman, Director of MasterCard, commented in a letter to Agence France-Presse that “one of the goals of this forum is to avoid the balkanization of the Internet, which could be a source of conflict between countries.” “Ways can be found to address governments’ legitimate concerns about, for example, protecting private data without sacrificing the benefits of an open digital economy,” he added.

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