Global regulators sign joint agreement to address AI risks

Regulators from the UK, US, and European Union (EU) have signed a joint agreement to promote AI safety and competitiveness.

This agreement, endorsed by the UK Competition and Markets Authority (CMA), the European Commission (EC), the US Department of Justice (DOJ), and the Federal Trade Commission (FTC), outlines principles aimed at addressing potential risks associated with AI foundation models and their impact on competition and users.


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The agreement emphasises the need to monitor “key inputs” in AI development and to be vigilant about dominant technology companies possibly extending their influence in AI markets.

It also highlights concerns about “arrangements involving key players,” including partnerships, financial investments and connections within the AI sector, which could threaten competition.

The document also notes that while such arrangements might not always harm competition, they could allow major firms to undermine competitive threats and manipulate market outcomes to their advantage at the expense of the public.

The regulators also recommend that AI companies engage in “fair dealings” rather than “exclusionary tactics”.

“AI can turbocharge deceptive and unfair practices that harm consumers,” the document stated.

“The CMA, DOJ and the FTC, which have consumer protection authority, will also be vigilant of any consumer protection threats that may derive from the use and application of AI. Firms that deceptively or unfairly use consumer data to train their models can undermine people’s privacy, security, and autonomy. Firms that use business customers’ data to train their models could also expose competitively sensitive information.

“Furthermore, it is important that consumers are informed, where relevant, about when and how an AI application is employed in the products and services they purchase or use.”