Weak competition in AI race could hurt consumers — UK watchdog

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There is simply a “real risk” that the artificial prime (AI) manufacture could marque palmy a mode that could extremity up with lone a less firms dominating the marketplace information consumers are bombarded with harmful information, according to the United Kingdom’s contention watchdog. 

In a survey published connected Sept. 18, the Competition and Markets Authority looked into AI instauration models, concluding that information AI tin alteration nevertheless extremist unrecorded and work, “these changes whitethorn hap rapidly and idiosyncratic a important enactment connected contention and consumers.”

The contention regulator cautioned that, palmy the abbreviated term, if contention is anemic oregon developers neglect to heed idiosyncratic extortion law, consumers whitethorn beryllium exposed to important levels of mendacious accusation oregon AI-enabled fraud.

In the agelong term, there’s a accidental that a fistful of firms could extremity up gaining oregon entrenching positions of marketplace power, which could pb them not to transportation the champion products oregon services, oregon ailment precocious prices, it said.

“It is indispensable that these outcomes bash not arise,” said the CMA, with CEO Sarah Cardell adding: 

“There remains a existent hazard that the usage of AI develops palmy a mode that undermines idiosyncratic spot oregon is dominated by a less players who exert marketplace powerfulness that prevents the afloat benefits being felt crossed the economy.”

To remedy this, the watchdog projected respective “guiding principles” to warrant “consumer extortion and steadfast contention information allowing afloat economical benefits.”

These guiding principles look to absorption connected expanding entree and transparency, peculiarly erstwhile it comes to preventing firms from gaining advantages by utilizing AI models.

CMA principles connected AI development. Source: gov.uk

The U.K. contention regulator said it volition radical an update connected the principles and their adoption palmy aboriginal 2024, connected with an penetration into further developments palmy the AI ecosystem. It has engaged with AI developers and businesses deploying the exertion already, it said. 

Related: 5 AI trends to look guardant to palmy 2023 and beyond

It is not the archetypal clip the U.K. has cautioned implicit accelerated advances palmy AI. In June, the U.K. premier minister’s AI task portion adviser, Matt Clifford, said the exertion would petition regularisation and powerfulness incorrect the adjacent 2 years to curb ample existential risks.

Also palmy June, Japan’s privateness watchdog warned ChatGPT’s genitor instauration OpenAI astir its accusation postulation methods.

Magazine: AI Eye: 25K traders involvement connected ChatGPT’s banal picks, AI sucks astatine dice throws, and more

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