Abigail Slater: Big Data = New Oil

Abigail Slater, a senior official in the Antitrust Division of the U.S. Department of Justice, highlighted this week the critical importance of data in the digital economy and in the enforcement of antitrust laws, emphasizing its role in free market competition and technological innovation.

In a statement addressed to the public, Slater noted that data “plays a huge role in driving the U.S. economy and adds trillions of dollars to our GDP every year.” She explained that from cloud services to artificial intelligence, finance, and healthcare, data is the engine that enables both established companies and emerging industries to optimize operations and innovate in technology. “Data is the new oil, and big data is the new engine of American innovation in the field of artificial intelligence,” she stated.

Slater highlighted the emergence of large language models (LLMs) and their transformative potential in everyday life and work. However, she warned that U.S. leadership in AI will depend on entrepreneurs beyond the major players having fair access to the data they need to compete. “The fight for monopoly power will involve a fight over data—who controls it and who is excluded from it,” she said, pointing out the risks of entry barriers for startups and locking consumers into existing services.

The official recalled that antitrust law enforcement in the United States has more than a century of history, with landmark cases that promoted competition and innovation. From the breakup of Standard Oil, which boosted the energy and transportation sectors, to the cases against AT&T and Microsoft, which paved the way for the rise of tech companies like Google and Apple, antitrust enforcement has opened economic opportunities without punishing company success.

Slater concluded her message by emphasizing the crucial choice facing the digital economy: “allowing monopoly control of data to close the door or enforcing the law so that markets remain open, innovators can move forward, and the United States continues to lead in global technology markets.”

The DOJ’s Antitrust Division thus reaffirms its commitment to competition, innovation, and the preservation of a fair market in the era of big data and artificial intelligence.

Video Source: Social Media.