UK reviews AI development It can ‘drive substantial economic growthThe United Kingdom (UK) is taking a closer look at the development of artificial intelligence (AI), particularly foundation models, to better understand the potential opportunities and challenges they bring.
The Competition and Markets Authority (CMA) has launched a review to assess the competitive landscape and consumer protection aspects of AI foundation models, seeking to establish guiding principles that support both competition and consumer protection.
UK explores the competitive landscape of AI foundation models
Foundation models, which include large language models and generative AI, have shown significant potential to transform various aspects of human life and business operations.
In response, the UK government has asked regulators, including the CMA, to consider how the development and deployment of AI can be supported while adhering to five key principles: safety, security, and robustness; appropriate transparency and explainability; fairness; accountability and governance; and contestability and redress.
The CMA’s initial review aims to examine how the competitive markets for foundation models and their use might evolve, and explore the opportunities and risks these scenarios present for competition and consumer protection.
Moreover, develop guiding principles that support both competition and consumer protection as AI foundation models progress.
Protecting consumers and fostering innovation
Although AI development raises concerns related to safety, security, copyright, privacy, human rights, and market dynamics, the CMA’s review will focus on the implications of AI foundation models for competition and consumer protection.
Sarah Cardell, Chief Executive of the CMA, emphasized the importance of ensuring that the potential benefits of AI technology are accessible to UK businesses and consumers while protecting them from issues such as false or misleading information.
The CMA has requested input from stakeholders and invites submissions by June 2, 2023. Following evidence gathering and analysis, the CMA will publish a report outlining its findings in September 2023.
Collaboration with government and industry stakeholders
The review aligns with the UK government’s AI white paper, which highlights the need for a pro-innovation and proportionate approach to regulating AI use in order to realize its potential benefits.
The CMA will work closely with the Office for AI and other members of the Digital Regulation Cooperation Forum (DRCF) throughout the review process, sharing findings with the government to help inform the UK’s AI strategy.
To ensure a comprehensive understanding of foundation models and their implications, the CMA plans to engage with businesses, academics, and public policy stakeholders in the sector.
While other important questions related to foundation models, such as copyright, intellectual property, online safety, data protection, and security, are not included in the scope of this review, the CMA’s findings will be crucial in shaping the future of AI development in the UK.
As the UK moves forward with its examination of AI foundation models, the nation aims to strike a balance between fostering innovation and protecting consumers.
The CMA’s review and resulting guiding principles will play a vital role in ensuring the responsible development of AI technologies and their applications, ultimately benefiting businesses, consumers, and the broader UK economy.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
