Spotify Technology's
Ek emphasized the dynamic nature of AI development but raised concerns that current regulations would become outdated because of the pace at which the technology was transforming, according to a news report by the Financial Times, citing an interview.
Ek expressed exasperation with Apple and Google's overwhelming control over internet access globally.
"I find it insane that two companies essentially control how over four billion consumers access the internet around the world. Not only are they dictating the rules, they also compete directly downstream with those providers," Ek told the Financial Times.
He advocated for the U.K. to seize the opportunity to demonstrate agility and leadership in establishing fair digital market practices, especially in the post-Brexit era.
Businesses competing directly with Apple were forced to pay commissions on in-app sales, the report added. "That's where it becomes anti-competitive," EK said, as noted by the Financial Times.
Ek is urging EU legislators to implement the Digital Markets Act (DMA) in its entirety and is also supporting the enactment of the Open App Markets Act in the US, the report added.
Price Action: SPOT shares are trading lower by 1.02% to $156.50 premarket on the last check Tuesday.
