UK Competition and Markets Authority Raises Alarms Over Big Tech’s AI Dominance
The UK’s Competition and Markets Authority (CMA), led by Sarah Cardell, has voiced its displeasure with the control of AI Foundation Models (FMs) by a small number of tech companies. This concern was outlined in a paper presented by the CEO during an Antitrust Law Spring Meeting in Washington on April 11.
Cardell, head of the regulatory body, has expressed concern that Big Tech investments in the artificial intelligence sector could stifle competition.
“The essential challenge we face is how to harness this immensely exciting technology for the benefit of all, while safeguarding against potential exploitation of market power and unintended consequences. We’re committed to applying the principles we have developed, and to using all legal powers at our disposal – now and in the future – to ensure that this transformational and structurally critical technology delivers on its promise,” Cardell explained.
According to the CMA boss, there’s an “interconnected web of over 90 partnerships and strategic investments involving the same firms: Google, Apple, Microsoft, Meta, Amazon, and Nvidia (the leading supplier of AI accelerator chips).”
We’ve outlined our growing concerns in the #AI #foundationmodels market, including 3 key interlinked risks to fair, open and effective competition.
Read more about these, as well as our plans for further action, here: https://t.co/pP2larduqN pic.twitter.com/YeShd28aUH
— Competition & Markets Authority (@CMAgovUK) April 11, 2024
Concerns exist regarding the impact of these investments on customer choice and healthy competition within the rapidly growing AI sector.
The CMA chief outlines three specific dangers:
Companies like Microsoft, Amazon, and Google have invested billions in AI development,
