Harm of Giants in Cloud computing Market
Kure Chel Lee, Yun Ho Choi, Ki Duck Kim · 2023
In the realm of traditional IT, dominance was primarily held by IT service providers. However, the landscape has drastically changed in the artificial intelligence sector, with market power shifting towards global behemoths such as Google, Apple, and Amazon. These industry giants have solidified their dominance by capitalizing on electronic data, presenting a challenge in terms of regulating their growing market control. This article aims to explore the consolidation of monopolistic power among a handful of cloud service providers and the resulting ramifications on the market. Additionally, it delves into the comprehensive inquiry conducted by the U.S. Judiciary Committee in 2019. This investigation scrutinized the market influence and business practices of tech titans including Amazon, Apple, Facebook, and Google. The insights gleaned from this investigation are analyzed to shed light on the issue at hand. Furthermore, this article puts forth strategies for the regulation of business activities within the cloud market ecosystem. It suggests potential enhancements to antitrust regulations that can effectively address the emerging concerns. The goal is to strike a balance between fostering innovation and competition while preventing unchecked monopolistic control.