Rise of Tech Giants

Tech giants entering the banking and financial industry is not an issue of the future, it is already happening. This phenomenon has crucial implications that extend well beyond the banking system. There are questions like: Will tech giants be competitors of incumbents or will they rather partner up? How is the financial regulation going to handle this radical change, and will it succeed in creating a level playing field? What are the implications from a political and social point of view? Will tech giants acquire too much bargaining power in dealing with sovereign states, allowing them to shift political decisions and laws in their favour? This edited book provides a number of answers to these questions through a research effort on the economic and political implications of this technological revolution. While it is impossible to stop this revolution, it poses the challenge of steering towards a sustainable and inclusive improvement of our society and economy.

Nicola Bilotta is researcher at the Istituto Affari Internazionali (IAI) in the International political economy area. Previously, he worked as a research analyst at The Banker Research Team (Financial Times), with which he still collaborates. He was associate fellow at the Seven Pillar Institute of Finance & Ethics and researcher at the Istituto di Alti Studi di Geopolitica e Scienze Ausiliari.

Simone Romano is advisor in the G7/G20 Sherpa Unit at the Office of the Prime Minister of Italy and associate fellow at the Istituto Affari Internazionali (IAI). He is also researcher and adjunct professor at Roma Tre University and previously visiting professor at the Freie Universität in Berlin.