UK Competition Authority to Investigate AI Algorithms More Closely
The UK’s competition authority has introduced a fresh set of guidelines for overseeing artificial intelligence and initiated a project to enhance its examination of this rapidly advancing technology.
The Competition and Markets Authority said on Monday that artificial intelligence could quickly affect markets and consumers after extensive initial assessment. It outlined seven principles for regulating AI systems trained on a huge bank of data that can be adapted to different tasks – known as basic models.
The regulator said it is launching a major program to develop its position on artificial intelligence, which will see it talk to companies at the forefront of the technology, including Alphabet Inc’s Google, Meta Platforms Inc., OpenAI, Microsoft Corp., NVIDIA Corp. and Anthropic. It also seeks the views of consumer and civil society groups, government experts and other regulatory authorities. It will publish additional results in early 2024.
“There is a real risk that the use of AI will develop in a way that erodes consumer confidence or is dominated by a few players who exercise market power that prevents the benefits from being experienced by everyone across the economy,” said Sarah Cardell, chief executive of the CMA. officer.
Artificial intelligence has become a priority for the UK government, which hopes to put the country at the forefront of its development. The government asked several regulators to review its progress in a paper published in March, and Prime Minister Rishi Sunak hosted a global summit on artificial intelligence in early November at Britain’s World War II code-breaking center at Bletchley Park.
