US, EU, UK antitrust regulators sign deal on competition in AI 

Regulators in the European Union (EU), the United Kingdom, and the US have committed to ensure effective competition in generative artificial intelligence (AI) foundation models and products. 

The European Commission, the UK’s Competition and Markets Authority, the US Department of Justice, and the US Federal Trade Commission said in a joint statement that they share a commitment to the interests of people and economies.

“Guided by our respective laws, we will work to ensure effective competition and the fair and honest treatment of consumers and businesses. This is grounded in the knowledge that fair, open, and competitive markets will help unlock the opportunity, growth and innovation that these technologies could provide.,” the statement said. 

Generative AI has rapidly evolved in recent years, and such “technological inflection points” could introduce new means of competing, catalyzing opportunity, innovation and growth, the statement said.

“Given the speed and dynamism of AI developments, and learning from our experience with digital markets, we are committed to using our available powers to address any such risks before they become entrenched or irreversible harms,” the regulators said in the statement. 

Identifying risks to competition, the regulators said there are risks of concentrated control of key inputs, entrenching or extending market power in AI-related markets, and arrangements involving key players.

While competition questions in AI will be fact-specific, fair dealing by firms with market power, interoperability without sacrificing privacy and security, and choices available to businesses and consumers will ensure protecting competition in the AI ecosystem, the statement added.