As artificial intelligence continues to develop rapidly, the European Commission, the UK Competition and Markets Authority (CMA), the US Federal Trade Commission and the US Department of Justice have signed a joint statement setting out common principles to protect competition and consumers.
The statement expresses a shared view that AI, especially strong foundational models, has the potential to drive innovation and growth and bring about transformative, positive change in the way we live and work. It also acknowledges that these technologies may pose certain risks to competition and consumers that, if realized, must be addressed before they become entrenched or cause irreparable harm.
Both agencies have established fair trade, interoperability, and choice as key principles to support competition, protect consumers, and help businesses innovate and thrive. They also agreed to recognize the global nature of these markets and share their understanding of the issues that arise in these markets. Each agency will use its respective authority to address potential risks to competition posed by AI-based models, including the concentration of control over key inputs required for technology development and the potential for companies to consolidate or expand their market power in AI-related markets.
CMA Chief Executive Sarah Cardell said:
AI is a borderless technology with the potential to spur innovation and growth, and bring about transformational change for people, businesses and economies around the world. That's why we've committed to working with our EU and US partners to help ensure fair, open and effective competition in AI fosters growth and positive change in society.
This statement marks the latest step in the CMA's work on AI-based models: in April 2024, the CMA published an update setting out six principles to support competition and consumer protection as AI-based models are developed and deployed.
Note:
- The full statement can be found on the CMA's website.
- The statement signed by the CMA does not change the merger review process for AI partnership cases.
