CMA in the UK keeps a close eye on artificial intelligence

The UK Competition and Markets Authority (CMA) is set to investigate the AI market to ensure that no single firm dominates and that AI’s benefits are available to everyone. The review will examine the software behind chatbots like ChatGPT, among other AI technologies.

The AI industry is under scrutiny due to concerns about job losses, privacy, and the potential for circulating misleading information. CMA CEO Sarah Cardell stated that foundation models, such as the software behind ChatGPT, could transform the way businesses compete and drive substantial economic growth. However, she cautioned that it is crucial to ensure that the potential benefits are readily accessible while protecting people from false or misleading information. Founder of advertising companies WPP and S4, Sir Martin Sorrell, called AI an “industrial revolution” and a “major shift in technology.” The CMA has shown its willingness to prevent tech firms from having too much power, as seen in its blocking of Microsoft’s planned takeover of UK gaming giant Activision Blizzard last week.

Some experts have warned that AI tools such as Bard and ChatGPT could displace millions of jobs. Geoffrey Hinton, a leading AI expert, has also warned that the dangers of AI chatbots are “quite scary” and that they could soon surpass human intelligence. In March, influential figures in AI called for powerful AI systems to be halted for at least six months amid concerns about the risks they pose.

The UK’s CMA will investigate the AI market to ensure that its benefits are accessible to everyone, while protecting people from false or misleading information. The watchdog will look at the impact on competition and create guiding principles to safeguard consumers as AI develops. The heads of Google, Microsoft, OpenAI, and Anthropic are scheduled to meet with US Vice President Kamala Harris to discuss AI issues.

Source: BBC News