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Discover the future value of your portfolio and see how far away you retirement could be; analyze current and possible investments; calculate loan payments and summarize your spending for tax purposes. Full Specifications. What's new in version 2. Release November 7, Competition policy guards against any abuse of market power by economic agents with a dominant market position. While related policies are under development, policymakers do not yet fully understand the digital market, or what anti-competitive behavior looks like in that context.

Taxation in the digital economy is another big issue. In the physical economy, the source of goods, residency, and citizenship are generally the bases on which governments assert the right to tax.

How can these concepts be applied to the digital economy where a platform operates in one part of the world and sells and makes goods available online for download elsewhere? How can tax authorities track such transactions? Who has the right to tax the value created from that transaction? And then of course, property and intellectual property, in particular, is a big factor. Under the classical IP system, any non-public data that an economic agent has taken reasonable steps to keep confidential, and which have perceived economic value, may constitute a trade secret.

Within the digital economy, trade secrets have become a dominant means of protecting unpublished data of economic significance. But do trade secrets adequately protect such data? For example, if a company gives data to a sub-contractor for a specific purpose, the subcontractor cannot use them in any other way.

Policymakers will need to examine whether trade secrets adequately address or regulate all of the issues that may arise in relation to data protection in the digital economy. At this stage, I do not foresee a new registrable property right for data. If a new right emerges, it will result from society coming to a position on the illegitimate collection, storage and use of data, with anything outside that sphere being deemed legitimate.

Once in place, restrictions may be perceived as the basis of the exclusionary rights that we normally consider to be property. In this way, when we create restrictions on the free flow of data in its collection, storage and use, they may, at some stage, amount to a property right. This question is currently attracting a lot of attention. In addressing it, we should not forget that a starting point for developing IP policy, and indeed innovation policy, is to identify desired outcomes.

What is it that we want to achieve? This is the fundamental question. If society considers innovation will be encouraged by giving a right to a machine, then such a proposition may gain traction. But how would such a right work in society?

At some point, a human being has to derive revenue or otherwise benefit from that right. Moreover, inventors and scientists already use a whole range of technologies to develop inventions and achieve results that would not otherwise be possible. A starting point for developing IP policy, and indeed innovation policy, is to identify desired outcomes. Far more important questions arise in relation to restrictions on the use of data with respect to AI-based algorithms.

For example, is it an infringement of copyright to feed copyrighted data into an AI algorithm for learning? This is a difficult question because first, we are not sure what the impact of such a restriction will be, and second, it is not clear that we will ever know whether a work produced by a deep learning algorithm is created using copyrighted data. So we need to carefully examine the outcomes we want to achieve and the arrangements that need to be in place to achieve them.

At the policy level, we are encouraging a conversation among member states with a view to collectively formulating the questions that policymakers need to ask and then collectively discussing potential ways to ensure we create effective innovation policy settings for the new digital economy. Although we are light years away from any international position on these issues, the exercise is important and has a lot of value. It will improve our understanding of the IP policy implications of the dominance of data-driven technologies in the digital economy and will support the development of national positions on these questions.

At the operational level, as a multilateral organization, WIPO also has to address the question of distributional justice and the impact that the rapid evolution of the digital economy is having on the capacity of developing countries to participate and compete in the digital economy. The Organization is continuing to invest in improving its online platforms and in developing new AI-based tools for them.

Various other tools are in the pipeline. Subject to approval by member states, WIPO is also proposing to establish a digital time stamping service, a sort of digital notary service, that will help innovators and creators prove that a certain digital file was in their possession or under their control at a specific date and time.

This is a small but significant step towards helping inventors and creators better protect their IP interests in the digital economy. It is so easy to represent these developments as a series of cool new products and services, but we must not lose sight of the need to find policy solutions to address these profound and transformative developments.