Competition Bureau says its policies are adequate to deal with big data dangers
OTTAWA — Canada’s competition regulator says it’s not the size of the data, but the size of the deception that it must guard against as it considers protecting innovation and competition in a marketplace where big data is seen as a growing concern.
It says in a new report the emergence of firms that control and exploit vast quantities of data can pose new challenges for competition law enforcement but is not, in itself, a cause for concern.
The calming conclusion comes less than two weeks after a top Bank of Canada official warned of potential anti-trust and competition law risks related to the growing dominance of a handful of big firms in the digital economy and their monopoly over user data.
Senior deputy governor Carolyn Wilkins said in a speech that policy adjustments should be a priority for governments concerned about the market power from control of consumer data of certain companies.