Wipro’s Rishad Premji bats for self-governance by social media firms

Mumbai: The social media platforms have built-in the world like by no means earlier than and needs to be allowed to apply “responsive self-governance” to sort out the menace of hate and misinformation, Wipro Chairman Rishad Premji mentioned on Thursday.

Technological developments on the digital and social media characterize an extremely highly effective alternative for betterment, and the problems arising by means of its misuse have to be addressed instantly, he mentioned.

Technology, particularly digital and social media, have integrated the world as never before. They’ve fostered human connections and solidarity across distances and barriers. And this is incredibly powerful. At times, they have been a channel for consolidation and fomenting of hate and misinformation,” Premji mentioned.

The remarks, made at an occasion of business foyer IMC Chamber of Commerce and Industry, come at a time when Twitter and the federal government
are engaged in a row over the previous’s non-compliance with India’s new IT guidelines.

Premji mentioned if we don’t sort out the tensions and the questions that come up from the potential misuse of a social media platform, their “extraordinary potential” is not going to be fulfilled. “… either they may understandably get curtailed by governments or may continue to unleash forces which are against human wellbeing.” “Perhaps, the approach to confronting this matter is much more responsive self-governance by technology platforms as is being practiced by some of the players today.”

According to the

chairman, whereas expertise has given immense energy to the small companies and customers by means of entry to data, it has additionally resulted in “winner takes all” market, the place a single or few corporations maintain sway. Monopolies or near-monopolies shouldn’t dent the spirit of entrepreneurship and innovation, he mentioned. “We need to think through what does regulation mean in the world of technology, including cross border regulation and laws on competition”.

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