UK Watchdog Looks to Prevent Big Tech Monopolies in AI

Britain is stepping up its efforts to regulate the way Artificial Intelligence (AI) is used, announcing a new set of principles on Monday that will help prevent AI models from being held hostage by a handful of tech companies.

The seven principles proposed by the Competition and Markets Authority (CMA) are aimed at regulating foundational models, such as ChatGPT, by requiring developer accountability, preventing Big Tech from monopolizing the technology, and stopping anti-competitive practices such as bundling, reported Reuters.

CMA Chief Executive Sarah Cardell expressed her optimism for the technology, saying that AI has “real potential for this technology to turbocharge productivity and make millions of everyday tasks easier — but we can’t take a positive future for granted.”

However, Shaunt Sarkissian, Founder and CEO of AI-ID argues that “what is key for most consumers is knowing that [AI] goes well beyond just a large language model [LLM], it goes well beyond what you’re sort of seeing at the surface, and it’s been touching and permeating a lot of parts of your daily lives for years.”

The regulations proposed by the CMA address many of the concerns and worries consumers have about the safety of AI technology, particularly in sensitive areas like banking and healthcare. The regulations call for more transparency and access to key inputs, access to a diversity of business models including both open and closed, and the flexibility to use various models.

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The proposed regulations come six weeks before the UK is due to host a Global Artificial Safety Summit. The CMA is now seeking views from major tech developers such as Google, Meta, Open AI, Microsoft, NVIDIA and Anthropic, as well as governments, academics and other regulatory bodies.

The new regulations will help British regulators assume power over digital markets as the CMA is now in the process of rolling out new powers.

The U.K. is looking to lead the way on AI regulation, as other countries, including the United States, are also considering possible rules. The UK’s proposed AI safety principles will underpin its approach to AI, and the UK hopes that its lead will be followed by other countries.

Source: Reuters