Sociotechnical imaginaries of algorithmic governance in EU policy on online disinformation and FinTech

Abstract

Datafication and the use of algorithmic systems increasingly blur distinctions between policy fields. In the financial sector, for example, algorithms are used in credit scoring, money has become transactional data sought after by large data-driven companies, while financial technologies (FinTech) are emerging as a locus of information warfare. To grasp the context specificity of algorithmic governance and the assumptions on which its evaluation within different domains is based, we comparatively study the sociotechnical imaginaries of algorithmic governance in European Union (EU) policy on online disinformation and FinTech. We find that sociotechnical imaginaries prevalent in EU policy documents on disinformation and FinTech are highly divergent. While the first can be characterized as an algorithm-facilitated attempt to return to the presupposed status quo (absence of manipulation) without a defined future imaginary, the latter places technological innovation at the centre of realizing a globally competitive Digital Single Market.