Apples Tim Cook Calls For More Regulations On Data Privacy

Cook called for “well-crafted” regulations that prevent the information of users being put together and applied in new ways without their knowledge
Beijing: Apple Inc Chief Executive Tim Cook has called for stronger privacy regulations that prevent the misuse of data in the light of the controversial leak of Facebook user information.
Cook called for “well-crafted” regulations that prevent the information of users being put together and applied in new ways without their knowledge during a session on global inequality at the annual China Development Forum in Beijing on Saturday.
His comments will ramp up pressure on Facebook Inc and other technology companies that rely on the huge reams of data gathered from billions of people to power their products, services and sales. Facebook co-founder Mark Zuckerberg belatedly apologised for failing to better control its customers’ data following reports that it let Cambridge Analytica amass information on 50 million users. The social network’s shares have tumbled 14 per cent following the reports.
“I think that this certain situation is so dire and has become so large that probably some well-crafted regulation is necessary,” Cook said after being asked if the use of data should be restricted in light of the Facebook incident. “The ability of anyone to know what you’ve been browsing about for years, who your contacts are, who their contacts are, things you like and dislike and every intimate detail of your life — from my own point of view it shouldn’t exist.”
Cook said his company had long worried that people around the world were giving up information without knowing how it could be used.
“We’ve worried for a number of years that people in many countries were giving up data probably without knowing fully what they were doing and that these detailed profiles that were being built of them, that one day something would occur and people would be incredibly offended by what had been done without them being aware of it,” he said. “Unfortunately that prediction has come true more than once.”
Industry leaders
Top US executives from Google chief Sundar Pichai to IBM’s Ginny Rometty gathered in Beijing this weekend under the shadow of a brewing trade war, as US President Donald Trump prepares to slap tariffs on Chinese goods, potentially affecting more than $50 billion worth of products. Until the US government formalises the details of the tariffs, the impact on American companies will be difficult to gauge.
Cook said that he held passionate views on the issue and that he’d personally weighed into the debate.
“The countries that embrace openness do exceptional and the countries that don’t, don’t,” he said. “It’s not a matter of carving things up between sides. I’m going to encourage that calm heads prevail.”
UAE Secures Over $30bn In Crypto Investments In Just One Year: Report
With a proactive regulatory framework, the UAE presents investors with a balance between innovation and security Read more
DIFC Partners With Lloyds To Boost Future Talent In Insurance Sector
The agreement, which envisages a longstanding partnership, will help support development of a talent pipeline into the ... Read more
Paymob Secures UAE Central Bank License For Retail Payment Services
The regulatory nod also enables the company to provide merchants with its full suite of omni-channel solutions Read more
Open Banking Fuels GCC Fintech Boom As UAE, Saudi Lead Regional Growth Surge
The open banking payments volume in the GCC is projected to quadruple to over $930 billion by 2028 from $230 billion in... Read more
Saudi Arabia Leads Region With 178 Venture Capital Deals Last Year
Saudi venture capital funding is supporting business startups in the Kingdom Read more
UAE Gold Reserves Reach $6.7bn
CBUAE gold reserves surged by 34.8 per cent in the first 10 months of 2024 Read more