Transfin.

Facebook Will Remove Deepfakes As US Election Approaches, China Targets Internet Companies in Antitrust Law Overhaul

Facebook says it will remove deepfake videos as US election approaches. China targets internet companies for the first time in antitrust law overhaul.

 

Facebook Will Remove Deepfakes As US Election Approaches, China Targets Internet Companies in Antitrust Law Overhaul

 

BIG TECH REGULATION

Facebook says it will remove deepfake videos as US election approaches.

Fighting Fakes: Facebook has said that it will remove deepfakes and other manipulated/edited videos from its social media platform.

 

This will include media by technologies like AI that “merges, replaces or superimposes content on to a video, making it appear to be authentic”. However, it will "not extend to content that is parody or satire, or video that has been edited solely to omit or change the order of words”.

 

The California-based company's announcement comes ahead of the US Presidential election, which will be held this November. Reuters

 

Background: Facebook has been consistently under fire by both major political parties in the US over the issues of fake news, fact-checking political ads, and online censorship. As election season heats up, it will likely find itself under Congressional and regulatory fire more often.

 

China targets internet companies for the first time in antitrust law overhaul.

On the Other Side of the Planet: US and European regulators have been frequently at odds with Big Tech firms like Facebook, Google and Amazon in recent months. Chinese regulators are no different - except that the firms they're targeting are domestic players like Alibaba, Tencent and ByteDance, among others.

 

A Little Bit of History: China's Anti-Monopoly Law was enacted in 2008. But Beijing had been frequently accused of implementing it unevenly to the detriment of foreign companies. As the Trump administration has rallied against the Communist Party's selective practices, the latter has sought to pacify American complaints in order to secure a trade deal to end the ongoing trade war.

 

And Now, This: China has published proposed revisions to its Anti-Monopoly Law. These revisions have for the first time included the internet industry under the antitrust ambit, giving regulators the power to rein in the country's dominant internet giants. The proposed new rules say companies could be fined as much as 10% of their revenue or a maximum of $7.2m if found in violation of the law. BBG

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