The UK Competition and Markets Authority has announced that it will examine the development, deployment and social impact of AI.
The UK Competition and Markets Authority (CMA) has officially entered the artificial intelligence scene, with an announcement that it will examine the technology’s impact on consumers and the economy. The regulator said on May 4 that it will review the development and deployment of core models of apps like ChatGPT against core principles.
Cardell: Consumers Should Have Access to the Benefits of This Technology
In a statement, the institution said that these principles include security, transparency, fairness and accountability.
Sarah Cardell, CEO of CMA, stated that since the introduction of artificial intelligence tools into the public sphere, regulators have been keeping an eye on this area. Cardell continued: “It is a rapidly evolving technology and has the potential to drive significant economic growth as well as transform the way businesses compete.”
Cardell underlined that it is critical that businesses and consumers in the UK gain access to the potential benefits of this technology and protect them from fraudulent information.
CMA will first examine AI core models and the competitive market for the use of this technology. Regulators also plan to examine how they can increase opportunities, as well as risks to competition and consumers.
This review is intended to support healthy competition and produce guiding principles for consumer protection as AI technology evolves.
On April 25, the UK Prime Minister and Minister of Technology heard that they would form a task force aimed at accelerating the country’s AI readiness. In this context, the UK has also committed to provide $124.8 million in funding to support the task force.
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