1/27, 1:01 PM (Source: TeleTrader)
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Putin: Big Tech trying to replace US institutions

Russian President Vladimir Putin commented on Wednesday it is important to realize where the distinction is between successful global tech businesses and big data consolidation on the one hand, and the "efforts to rule the society in a self-servicing manner and substituting legitimate democratic institutions by restricting the people's right to decide how to live" on the other. He mentioned that "such cases" could be seen "recently" in the US, hinting at social media companies banning numerous accounts, including those of ex-President Donald Trump.

Putin said that it is "ok" that millions of users are using big tech eco-systems but that the question is, "how well this monopolism correlates with the public interest."

Speaking at Davos Agenda Week 2021, Putin stressed that post-pandemic recovery is not an easy task. "Coronavirus pandemic accelerated development of artificial intelligence, but without efficient effort by states, many people are risking their jobs, especially the middle class. There are also increasing economic problems, and inequality is splitting the society," he stated. He noted that one of the issues that have to be resolved is how modern technology can play a significant role in modern society without people losing their jobs.

Breaking the News / TF