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Weak competition in the AI ​​race could hurt consumers

There is a “real risk” that the artificial intelligence (AI) industry could develop such that just a few companies dominate the market, exposing consumers to a constant stream of harmful information, according to the UK’s competition watchdog.
Inside relationship Published on September 18, the Competition and Market Authority examined the basic models of artificial intelligence and concluded: While artificial intelligence can change the way people live and work, “These changes can happen quickly and have a significant impact on competition and consumers.”.
The competition regulator has warned that consumers could be exposed to significant levels of misinformation or fraud enabled by AI if competition is weak in the short term or if developers fail to comply with consumer protection laws.
In the long run, there is a possibility that a handful of companies will consolidate or acquire strong positions in the market. causing them not to offer the best products or services or charging high prices.
“These consequences must not occur”CMA adds CEO Sarah Cardell:

“There is a real risk that the use of AI will evolve in ways that undermine consumer confidence or become dominated by a few operators wielding market power, preventing its benefits from being fully felt across the economy.”

In order to find a solution to this situation, the regulatory body “Consumer protection and healthy competition also ensure that full economic benefits are achieved”.
These guiding principles appear to focus specifically on increasing access and transparency to prevent companies from taking advantage of the use of AI models.

CMA Guidelines for Artificial Intelligence Development. Source:

The UK competition regulator said it would publish an update on the principles and their adoption in early 2024, along with an overview of other developments in the AI ​​ecosystem. The organization is already in contact with AI developers and companies using the technology.
This isn’t England’s first time warns Thanks to rapid advances in artificial intelligence. In June, Matt Clifford, adviser to the British prime minister’s artificial intelligence task force, said the technology needed to be regulated and controlled over the next two years to contain major existential risks.
Also in June Japanese privacy regulator warned ChatGPT’s parent companyOpenAI is all about data collection methods.

Translation by Walter Rizzo

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