Central regions | Telecoms, media | Finance, business

Russian IT companies look to self-regulate big data sector

4 Apr '17
Russia’s largest IT and telecom companies have proposed to the Russian government that they create a new self-regulating organization to oversee the “big data” sector, or the collection and analysis of extremely large sets of data to find trends, the US-Russia Business Council (USRBC) reported, citing the Russian news daily Kommersant.

The companies are reportedly concerned about recent indications that the government will begin to over-regulate big data usage, leading to reduced investment and a drag on the development of a digital economy in Russia. The companies involved are reportedly modeling their approach in part on the EU’s Big Data Value Association (BDVA).

Alexander Zharov, who heads a major national telecom watchdog called Roskomnadzor, said back in November that the Presidential Working Group on the Development of the Internet was beginning to draft legislation pertaining to regulation of big data, while Presidential Aide Igor Shchegolev said that the regulation of big data could begin this year.

Mail.ru Group, one of Russia’s leading Internet companies, asserted that the self-regulating organization model “will allow market participants to find an optimal balance between responsible regulation and the government’s restrictive legislative initiatives.”

The annual turnover in the global big data sector is forecast to reach $50bn by 2020, and McKinsey estimates that the use of big data contributes about $5trln to the global economy annually.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
Find Related Content


Tags: big data (5) / self regulating organization (0) /

Latest News: Central regions
27 Jun '17 | Transport, logistics | Finance, business
26 Jun '17 | Technology & innovation | Finance, business
23 Jun '17 | Energy, utilities | Technology & innovation
20 Jun '17 | Finance, business | Technology & innovation
16 Jun '17 | Technology & innovation

Feature stories

20 Jun '17
In regions most of European Russians will hardly ever...
17 May '17
Russian biologists and biophysicists are said to have...
21 Apr '17
Search (News archive - 21111)
Why Russians do not smile
Nano & Giga Symposium

Latest News

29 Jun '17
At the ITMO University, scientists have created a...
28 Jun '17
Scientists in Russia’s Far East have developed a...
27 Jun '17

Most read stories from last week

29 Jun '17
At the ITMO University, scientists have created a...
27 Jun '17
28 Jun '17
Scientists in Russia’s Far East have developed a...