The UK Competition and Markets Authority is seeking to establish what consumer protections need to be placed on AI systems. Credit: IR Stone / Getty Images The UK’s Competition and Markets Authority (CMA) has opened an initial review into the market for artificial intelligence systems, looking at the underlying foundational large language models that power chatbots such as ChatGPT alongside the opportunities and risks that AI could present. In a statement announcing the review, the regulatory body outlined three key areas it will examine: how the competitive markets for foundational models and their use could evolve; the opportunities and risks these scenarios could bring for competition and consumer protection; and what guiding principles should be introduced to support competition and protect consumers as AI models develop. The CMA added that the review is in line with the UK government’s aim to support “open, competitive markets,” as outlined in a white paper published in March. “It’s crucial that the potential benefits of this transformative technology are readily accessible to UK businesses and consumers while people remain protected from issues like false or misleading information,” said Sarah Cardell, chief executive of the CMA, in comments published alongside the announcement. “Our goal is to help this new, rapidly scaling technology develop in ways that ensure open, competitive markets and effective consumer protection.” As the CMA is carrying out this investigation under its general powers to keep markets under review, the likely immediate outcome of the investigation will be more about the CMA getting a better understanding as to how AI is impacting on technological development, rather than taking any enforcement action against individual companies, said Alex Haffner, competition partner at London law firm Fladgate. “That said, viewed against a background in which the CMA is being given ever greater powers to investigate and hold Big Tech to account, this announcement only serves to reinforce the notion that CMA is determined to use those powers as broadly as it can,” Haffner added. The UK government was also warned this week about the widespread impact AI could have on the workforce, with the UK’s outgoing chief scientific advisor, Sir Patrick Vallance, telling members of Parliament on the Science, Innovation and Technology Committee that the government needs to act to stop widespread job losses. “There will be a big impact on jobs and that impact could be as big as the Industrial Revolution was,” Vallance said. “There will be jobs that can be done by AI, which can either mean a lot of people don’t have a job, or a lot of people have jobs that only a human could do.” He also said that despite the opportunities the technology presented, the most immediate threat posed by AI was that it could “distort the perception of truth.” The interventions come in the same week the US Federal Trade Commission (FTC) chairperson, Lina Khan, wrote in an opinion piece in the New York Times that the agency was concerned that generative AI’s ability to write in conversational English could be used to help scammers be more effective, but that the agency was committed to using existing laws to rein in some of the dangers of artificial intelligence. A request for views and evidence from stakeholders before June 2 has also been put out by the CMA, with a report based on those findings due to be published in September of this year. Related content news Businesses lack AI strategy despite employee interest — Microsoft survey Microsoft’s fourth annual Work Trend Index survey shows that workers are coming to grips with generative AI tools, but leaders aren’t convinced they have a proper deployment strategy in place. By Matthew Finnegan May 08, 2024 6 mins Microsoft Generative AI IT Skills news analysis Apple Silicon sets scene for a new AI ecosystem With its new iPads, Apple presses home the message that Apple Silicon is built for AI. By Jonny Evans May 08, 2024 12 mins Apple Generative AI iPad news The CHIPS Act money: A timeline of grants to chipmakers The Department of Commerce is divvying up $52 billion in the hopes of spurring on-shore chip manufacturing in the US. Here's what's been allocated and where the money is going. By Lucas Mearian May 08, 2024 5 mins CPUs and Processors Government Manufacturing Industry reviews Arc browser for Windows — better than Chrome? This might just be the best web browser for power users. But you’ll have to rewire your brain. By Chris Hoffman May 08, 2024 13 mins Windows Browsers Productivity Software Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe