The UK Competition and Markets Authority (CMA) is commencing an initial examination of the competition and consumer protection aspects concerning the creation and utilization of foundation models for artificial intelligence (AI).

The UK’s Competition and Markets Authority (CMA) has announced a review of the artificial intelligence (AI) market, as concerns mount over the use of AI tools for the dissemination of false or misleading information. The CMA’s review will examine the foundational, or underlying systems that support AI tools such as OpenAI’s ChatGPT.

The move comes amid increasing global scrutiny of the technology, with regulators in Italy and the US also examining the use of AI. (The Guardian)

Kamala Harris, US Vice President, has invited CEOs from leading AI firms, including OpenAI (of ChatGPT fame) and Google-owner Alphabet (NASDAQ: GOOGL), to discuss safety concerns related to the technology.

The review will consider how markets for foundation models could evolve, as well as the opportunities and risks for consumers and competition. The CMA’s aim is to ensure that the benefits of AI are made available to UK businesses and consumers while protecting them from issues such as false or misleading information.

As part of the review, the Competition and Markets Authority (CMA) will create guiding principles to promote competition and safeguard consumers. Additionally, the review will examine whether companies that utilize AI should be identified as having strategic market status, which would necessitate that they comply with more customized regulations.

Sarah Cardell, Chief Executive of the CMA, said:

“It’s crucial that the potential benefits of this transformative technology are readily accessible to UK businesses and consumers while people remain protected from issues like false or misleading information. Our goal is to help this new, rapidly scaling technology develop in ways that ensure open, competitive markets and effective consumer protection.”

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