A review of the artificial intelligence (AI) market has been launched by the UK’s Competition and Markets Authority (CMA).
It will look at so-called foundation models, such as the software underlying ChatGPT, and will focus on the likely implications of such models for competition and consumer protection.
CMA chief executive Sarah Cardell said that AI is “developing at speed and has the potential to transform the way businesses compete as well as drive substantial economic growth”.
She added: “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.”
Speaking to the Financial Times, Cardell said that the review would be a “fact-finding mission” and would seek input from a range of stakeholders including businesses and academics to establish how best to protect consumers.
The announcement comes just days after the US Federal Trade Commission warned that it was “focusing intensely on how companies may choose to use AI technology, including new generative AI tools, in ways that can have actual and substantial impact on consumers”.
