A consortium comprised of Google, Meta Platforms, Qualcomm, and other prominent technology firms has united to forge a collaborative and open digital market. This joint effort is a strategic move by Big Tech to proactively address impending regulatory measures, particularly from the European Union.
The group, known as the Coalition for Open Digital Ecosystems (CODE), issued a joint statement on Wednesday outlining their objective to foster interoperability and cooperation among different systems operating in the digital landscape.
Anticipating the full enforcement of the EU’s Digital Markets Act in March of next year, CODE aims to establish an inclusive digital market that adheres to specific guidelines. Under this Act, platforms like Google-parent Alphabet and Meta will be categorized as “gatekeepers” and will be required to meet certain conditions, including data sharing with competitors and integrating their services with other market participants.
By forming alliances such as CODE, the major technology companies aim to minimize the risk of significant fines under the new EU regulations pertaining to digital competition. These fines could potentially reach up to 20% of their global revenue in cases of repeated violations.
CODE Coalition: Advocating for Digital Openness in Europe
CODE, a coalition comprised of prominent technology companies, academics, and policymakers, has announced its intention to drive evidence-based thought leadership surrounding digital openness in Europe. The coalition aims to achieve this by actively engaging with ecosystem companies and collaborating with key stakeholders to deliver effective implementation of the Digital Markets Act and future EU regulatory frameworks.
The Digital Markets Act forms part of a comprehensive suite of EU digital regulations that will significantly shape the technology sector. These regulations include ground-breaking legislation on artificial intelligence, which was recently agreed upon in principle during a meeting between European negotiators.
Notable members of the CODE coalition include tech giants Google, Meta, and Qualcomm. They are joined by respected industry leaders such as Motorola Solutions, Chinese technology companies Honor and Lenovo, French virtual-reality company Lynx, British electronics maker Nothing, Norwegian software maker Opera, and German messaging-services provider Wire. However, the coalition has expressed its openness to welcoming new members and is actively engaged in discussions with potential additions.