British Watchdog is Investigating the AI Market

The British competition watchdog CMA has launched a broad investigation into the development of the artificial intelligence (AI) market.

The regulator wants to know what impact this fast-growing technology will have on competition in the technology sector and whether more rules are needed to protect consumers.

Artificial intelligence develops computer systems that come close to human intelligence. For example, chatbots such as ChatGPT can write texts that appear to have been written by a human. The increasing possibilities offered by AI systems have prompted major technology companies such as Microsoft and Alphabet, the owner of Google, to accelerate investments in the sector.

“The potential benefits of this transformative technology must be easily accessible to UK businesses and consumers while protecting people from false or misleading information,” said CMA chief executive Sarah Cardell. “Our goal is to help develop this new technology in a way that ensures fair competition and consumer protection.” The CMA will publish the research report in September.

Earlier, the G7, a group of seven rich countries, including Germany and the United States, stated that the further development of AI necessitates additional regulations. In a joint statement, the countries indicated that the rules should be designed to maintain an “open and stimulating environment” for this emerging technology. Brussels is also working on a European AI law, which will probably be decided by EU countries later this year.

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