UK watchdog cautions over lack of competition in AI market
The UK’s competition watchdog has set out a list of principles designed to avoid any company obtaining a dominant position in the AI sector, and ensure that AI models are accountable and competitive. In its latest report, the CMA has focused specifically on foundation models – large-scale AI models such as OpenAI’s GPT-4 and Meta’s Llama 2 that can be adapted to downstream customer applications, meaning that they are intended to be built on by developers of customer-facing apps and services. The regulator said that AI would bring many benefits, but warned against the risk of a proliferation of false information , fraud and fake reviews. In addition, the monopolisation of the industry by one or a few firms could lead to higher prices and worse-quality products. “It is essential that these…