The article also highlights the shift towards automation and artificial intelligence in content moderation, with new regulations in the UK and Europe increasing the pressure on companies to address trust and safety issues. The growth of generative AI tools, which can be exploited to violate platform guidelines, has further intensified these concerns. Despite the challenges, the trust and safety as a service industry is growing, with companies like ActiveFence raising significant funding and increasing in valuation. The industry is compared to the cybersecurity industry 20 years ago, with predictions of hitting over $1 billion in revenue by the mid-2020s.
Key takeaways:
- Massive layoffs in the tech sector have affected trust and safety teams, raising concerns about the ability of startups to maintain online safety, especially with ongoing global conflicts and upcoming elections.
- Outsourcing trust and safety to consultancies and startups is becoming more common, but this could mean outsourcing responsibilities to teams that can't change how platforms operate, potentially undermining their ability to improve products.
- New regulations like the European Union’s Digital Services Act and the UK’s Online Safety Act, which allow for large fines, may motivate tech companies to change their content moderation practices.
- The trust and safety as a service industry is growing, with companies like ActiveFence raising significant funding and increasing in valuation. This growth is likened to the early stages of the cybersecurity industry.