Wipro’s Rishad Premji bats for self-governance by social media firms

The social media platforms have integrated the world like never before and should be allowed to practice “responsive self-governance” to tackle the menace of hate and misinformation, Wipro Chairman Rishad Premji said on Thursday.

Technological developments on the digital and social media represent an incredibly powerful opportunity for betterment, and the issues arising through its misuse need to be addressed immediately, he said.

“Technology, particularly digital and social media, have integrated the world as never before. They’ve fostered human connections and solidarity across distances and barriers. And this is incredibly powerful. At times, they have been a channel for consolidation and fomenting of hate and misinformation,” Premji said.

The remarks, made at an event of industry lobby IMC Chamber of Commerce and Industry, come at a time when Twitter and the government are engaged in a row over the former’s non-compliance with India’s new IT rules.

Premji said if we do not tackle the tensions and the questions that arise from the potential misuse of a social media platform, their “extraordinary potential” will not be fulfilled. “… either they may understandably get curtailed by governments or may continue to unleash forces which are against human wellbeing.” “Perhaps, the approach to confronting this matter is much more responsive self-governance by technology platforms as is being practiced by some of the players today.”

According to the Wipro chairman, while technology has given immense power to the small businesses and consumers through access to information, it has also resulted in “winner takes all” market, where a single or few companies hold sway. Monopolies or near-monopolies should not dent the spirit of entrepreneurship and innovation, he said. “We need to think through what does regulation mean in the world of technology, including cross border regulation and laws on competition”.