23 May 2018
Facebook Chief Executive Mark Zuckerberg met the leaders of the European Parliament yesterday. He told the EU that regulation on Facebook's data privacy was 'important and inevitable'. He also said Facebook would be compliant by May 25 with new General Data Protection Regulation (GDPR). Facebook has been embroiled in a data scandal after it emerged that the personal data of 87 million users were improperly accessed by a political consultancy.
MARK ZUCKERBERG, FACEBOOK CEO said "You know, some of the questions asked how I view regulation. I don't think the question here is whether or not there should be regulation. I think the question is what is the right regulation? I think the Internet is becoming increasingly important in people's life. Some sort of regulation is important and inevitable and the important thing is to get it right and to make sure that we have regulatory frameworks that help protect people, that are flexible so that they allow for innovation, that don't indavertantly prevent new technologies like AI (Artificial intelligence) from being able to develop."