U.S., United Kingdom, and E.U. make pact supporting AI competition

The United Kingdom’s competition watchdog has published a joint statement alongside counterparts from the United States and European Union in… Continue reading U.S., United Kingdom, and E.U. make pact supporting AI competition

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The United Kingdom’s competition watchdog has published a joint statement alongside counterparts from the United States and European Union in a pledge to support competition in AI. 

The Competition and Markets Authority stated there was consensus on the opportunities to be unlocked by AI, but also a need to ensure consumers are protected and for fair competition to flourish.

To balance the advantages and the risks posed by the evolving technology, the bodies have committed to dialogue and sharing information in the memorandum signed by the European Commission, the US Federal Trade Commission, and the US Department of Justice.

Specifically, “the agencies have set out fair dealing, interoperability, and choice as key principles to support competition, protect consumers and help businesses to innovate and thrive.”

One example given was the prospect of leading AI firms consolidating their dominant position in the AI race, which relates to an ongoing case under investigation by the CMA. 

Tangled web of AI company relationships

Concerns have been raised about the “interconnected web” of more than 90 partnerships and relationships between a small number, mainly big tech firms and AI research organizations that can scale up toward almost monopolizing the sector. 

In situations like this, the respective authorities are aiming to ensure a more level playing field, but also to manage risk while allowing enterprises to grow.

https://twitter.com/CMAgovUK/status/1815735678132470165 

CMA chief executive, Sarah Cardell stated “AI is a borderless technology which has the potential to drive innovation and growth, delivering transformative benefits for people, businesses, and economies around the world.”

“That’s why we’ve come together with our EU and US partners to set out our commitment to help ensure fair, open, and effective competition in AI drives growth and positive change for our societies.”

Image credit: Via Ideogram

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