As concerns grow over the emergence of ‘stakeholder capitalism’, where companies put their own interests before wider society, companies that monetise user-generated content (UGCM) are coming under increased scrutiny for their business practices.
Music streaming platforms such as Spotify have been criticised for not done enough to support new artists, while social media companies have also been slammed for not doing enough to combat the spread of misinformation, leading to groups such as the Facebook Files consortium calling for the break up of Meta.
Furthermore, the AI chatbot ChatGPT has highlighted how AI technology could soon make many white-collar jobs extinct, leading to widespread fear of mass unemployment.
Ethical questions surrounding the use of UGC are also on the rise, with several legal cases being brought against platforms cortical content that violates copyright or is harmful.
Finally, the EU is set to unveil plans for a new US-style media regulatory body that will oversee the use of AI and UGC.