The UK’s Competition and Markets Authority (CMA) launched an investigation into the AI industry, aiming to study potential competition and consumer concerns.
The agency will focus on “foundation technologies,” such as large language models and generative AI. Based on CMA’s work, it will publish guidelines to support competition and protect consumers.
According to the press release, the review will include:
- an assessment of the development of markets for foundation models and their use;
- examining the opportunities and risks these scenarios may pose for competition and consumer protection;
- creating guidelines to support the market and safeguard citizens as AI foundation models are developed.
“Artificial intelligence has burst into public consciousness in recent months, but has long been at the centre of our attention. This technology is developing at a rapid pace and could change the way business is conducted, as well as contribute to significant economic growth,” said CMA Chief Executive Sara Cardell.
She said it is important to ensure AI is accessible to British entrepreneurs, while safeguarding citizens from problems such as misinformation.
“Our aim is to help this new, rapidly scalable technology develop in a way that ensures open, competitive markets and effective consumer protection,” said Cardell.
By 2 June, the CMA intends to gather views and evidence from interested parties. In September, the regulator will publish its findings.
As reported in May, US Vice President Kamala Harris discussed with tech giants the potential risks of AI. Authorities signalled willingness to regulate the technology.
In April, media reported that EU lawmakers introduced an amendment to the EU AI Act regulating generative technologies.
In the same month, UK Prime Minister Rishi Sunak announced the allocation of £100 million ($125 million) to foster the development of “sovereign AI”.