Technology, Media, and Communications Annual Review 2024: key themes
Published on 20th Feb 2024
AI, digital regulation, M&A and emerging 'inclusive' policies are among the areas of focus for this year's review
Understanding AI
Artificial intelligence (AI) takes centre stage as a major theme throughout the report as industries including media, entertainment, sports, and telecoms are getting to grips with the unique challenges posed by it. From intellectual property concerns to bias and accuracy risks, the understanding of AI-related issues continues to develop. Litigators are also bracing for a potential wave of AI-related disputes.
M&A resilience
The TMC M&A market demonstrates resilience, despite valuation corrections in certain regions. Areas such as managed services, IT services, sortware as a service, unified comms and cybersecurity continue to attract strong deal activity. However, the market dynamics have shifted, creating a buyer's market with increased regulatory complexities and uncertainties due to foreign direct investment, foreign subsidies, and merger control regulations.
Regulatory developments
Digital regulation remains a significant focus area, with a tsunami of new obligations, particularly in the EU, where the Digital Services Act, the Digital Markets Act and the Data Act have necessitated a substantial rethink of business models and compliance. The introduction of additional legislation at local levels, including the UK's Online Safety Act, further adds to the compliance must-do list.
'Digital inclusion'
Looking ahead, the concept of "digital inclusion" emerges as a key theme for the coming year. Governments and businesses are recognising the importance of unlocking the full benefits of technology while ensuring that no one is left behind. It has long been recognised that connectivity, particularly through investments in 5G and fiber infrastructure, play a crucial factor in achieving digital inclusion goals, and government are now intervening appropriately.
Osborne Clarke comment
With extensive experience in the TMC sector and a dedicated team, Osborne Clarke is well-positioned to guide and advise both established industry leaders and disruptive innovators across borders.
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