Chinese billionaire Jack Ma: ‘I worry about Europe’ and its obsession with tech regulation


Jack Ma, the billionaire founder of Chinese e-commerce titan Alibaba, is worried about Europe


BREAKING NEWS

Al-Sahawat Times

This story is currently developing. Further updates will follow

To be notified of developments as they break


Al-Sahawat Times | Ethical Global News from Oman and UAE | Donate HERE


Advertisement – Advertise here from OMR 100 / $275 USD


Jack Ma, the billionaire founder of Chinese e-commerce titan Alibaba, is worried about Europe.

Why? Because Europe is worried about technology, he says, and is tightening regulations that restrict companies’ ability to innovate.

“Everything they do is full with rules and laws,” he told attendees at the Viva Technology conference in Paris Thursday. “And everything they think about, they start to worry. When they worry, they make rules and laws.”

He said that, when faced with problems, Chinese entrepreneurs “start to solve the problems, then think about rules and laws.”

“I worry about Europe,” Ma added. “I worry about the worries of Europe. Africa does not worry. Asia does not worry. What are they worried about?”

Europe has been viewed as leading the way when it comes to regulating large tech companies. The European Union for instance last year introduced stringent new data laws aimed at ensuring consumers’ right to privacy (GDPR).

The EU executive meanwhile recently published guidelines aimed at maintaining ethics in artificial intelligence (AI).

Ma pushed back against worries over AI Thursday. The Alibaba executive chairman said the firm uses artificial intelligence to “arrest and catch a lot thieves.” For example, he referred to the company’s payments platform Alipay, explaining it uses machine learning to detect “cheating” bad actors.

“If you think the technology revolution is a problem, I’m sorry to say a problem just started,” he added.

“If you think it’s an opportunity, the opportunity just started. The only thing is your mentality. If the mentality is now a worry, you’ll worry all the time.”

Like the industrial revolution before it the technology revolution will change and is changing everything.


Since you’re here …

… we have a small favour to ask. More people are reading Al-Sahawat Times than ever but advertising revenues across the global media industry are falling fast. And unlike many news organisations, we haven’t put up a total paywall. We want to keep our journalism as open as we can. So you can see why we need to ask for your help. Al-Sahawat Times’ independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe truly ethical media and an unbias perspective really matters.

“I appreciate there not being a paywall: it is more democratic for the media to be available for all and not a commodity to be purchased by a few. I’m happy to make a contribution so others with less means still have access to information.”

If everyone who reads our reporting, who likes it, helps fund it, the future of ethical media and the futures of our staff and their families would be much more secure. For as little as £1, you can support Al-Sahawat Times and it only takes a minute. Thank you.

 


This story is available on:

APPLE NEWS | GOOGLE NEWS | AL-SAHAWAT TIMES


Talk to a journalist

Email: NewsDesk@alsahawat.com

Web: alsahawat.com

Follow Al-Sahawat Times

⬆️ Follow on Instagram

⬆️ Follow on Twitter

⬆️ Follow on LinkedIn

⬆️ Follow on Facebook

⬆️ Follow on YouTube

?Read it on APPLE NEWS

?Read it on FLIPBOARD


 

About the Author

Michael Al-Said
News correspondent for Al-Sahawat Times since 2012

Leave a Reply

avatar
1500
  Subscribe  
Notify of