UK Competition and Markets Authority (CMA) launched investigation of the AI industry, seeking to explore potential competition and consumer concerns.
The agency will focus on “core technologies” such as large language models and generative AI. Based on the results of the work, the CMA will publish guidelines to support competition and protect consumers.
According to the press release, the review includes:
- assessment of market developments for foundation models and their use;
- exploring the opportunities and risks that these scenarios could create for competition and consumer protection;
- establishing guidelines to support the market and keep citizens safe as basic AI models are developed.
“Artificial intelligence has burst into the public consciousness over the past few months, but has been at the center of our attention for some time now. This technology is evolving at a rapid pace and has the potential to change the way we do business, as well as drive significant economic growth,” said CMA Executive Director Sarah Cardell.
It is important, she says, to make AI accessible to British entrepreneurs while keeping citizens safe from issues such as misinformation.
“Our goal is to help new, rapidly scalable technology evolve in ways that enable open, competitive markets and effective consumer protection,” said Cardell.
Until June 2, the CMA intends to collect opinions and evidence from stakeholders. In September, the regulator will publish its findings.
Recall that in May, US Vice President Kamala Harris discussed with the heads of tech giants the potential risks of AI. The authorities have declared their readiness to regulate the technology.
In April, the media reported that MEPs had amended the EU AI bill to regulate generative technologies.
That same month, British Prime Minister Rishi Sunak announced a £100 million ($125 million) package to spur the development of “sovereign AI.”
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UK Competition and Markets Authority (CMA) launched investigation of the AI industry, seeking to explore potential competition and consumer concerns.
The agency will focus on “core technologies” such as large language models and generative AI. Based on the results of the work, the CMA will publish guidelines to support competition and protect consumers.
According to the press release, the review includes:
- assessment of market developments for foundation models and their use;
- exploring the opportunities and risks that these scenarios could create for competition and consumer protection;
- establishing guidelines to support the market and keep citizens safe as basic AI models are developed.
“Artificial intelligence has burst into the public consciousness over the past few months, but has been at the center of our attention for some time now. This technology is evolving at a rapid pace and has the potential to change the way we do business, as well as drive significant economic growth,” said CMA Executive Director Sarah Cardell.
It is important, she says, to make AI accessible to British entrepreneurs while keeping citizens safe from issues such as misinformation.
“Our goal is to help new, rapidly scalable technology evolve in ways that enable open, competitive markets and effective consumer protection,” said Cardell.
Until June 2, the CMA intends to collect opinions and evidence from stakeholders. In September, the regulator will publish its findings.
Recall that in May, US Vice President Kamala Harris discussed with the heads of tech giants the potential risks of AI. The authorities have declared their readiness to regulate the technology.
In April, the media reported that MEPs had amended the EU AI bill to regulate generative technologies.
That same month, British Prime Minister Rishi Sunak announced a £100 million ($125 million) package to spur the development of “sovereign AI.”
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
