G7 nations’ antitrust authorities have signaled they may take “vigorous” enforcement action to protect competition in the artificial intelligence sector to tackle risks before they become “entrenched or irreversible.”
The watchdogs said in an Oct. 4 communiqué after a two-day summit in Rome that they want to reduce the “competitive bottlenecks” that hinder new AI entrants compared to established firms, which often get first access to generative AI tools, data and specialized chips.
They added they want to ensure AI isn’t used to facilitate “collusion” between AI firms as it could lead to price controls, sharing competitively sensitive information — or creating a monopoly.
Source: EU Competition
The group, made up of authorities from the United States, United Kingdom, Japan, Canada, France, Germany and Italy, is also focused on ensuring AI isn’t misused in a way that impacts copyright, consumer protection, privacy and data protection.
“Generative AI systems could harm content creators and innovators, leaving them under-compensated for their work and stifling human creativity and innovation,” they said in the communiqué.
“Ensuring that AI systems do not distort consumer decision-making processes through false or misleading information is critical to maintaining consumer trust and promoting a healthy competitive environment.”
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The watchdogs said keeping up to date with AI developments, establishing AI laws and enhancing international cooperation were three responsibilities that would help them achieve more favorable outcomes in AI markets.
They also came up with “guiding principles” to ensure AI markets are open and fair, which included fair competition, fair access and opportunity, choice, interoperability, innovation, transparency and accountability.
Source: Ed Llewellyn
The group highlighted that open technical standards would promote innovation while mitigating the concentration of market power and “preventing consumers and businesses from being locked into closed ecosystems.”
G7 is an informal bloc of industrialized democracies that meet annually to discuss a wide range of topics, from global economic governance and international security to emerging issues like AI markets.
The Federal Trade Commission and the Department of Justice represented the US at the G7 Competition Summit hosted by the Italian Competition Authority.
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