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 analysis Apple earnings: About that iPhone 'slump' in China Based on information from Thursday's earnings report, it seems that data pointing to an iPhone slump in China were over-baked. By Jonny Evans May 03, 2024 9 mins iMac iPhone Apple news Microsoft begins to phase out ‘classic’ Teams Microsoft is encouraging Teams customers to move to the new, faster version of the collaboration app; the older version will be switched off next year. By Matthew Finnegan May 03, 2024 3 mins Microsoft Teams Collaboration Software Productivity Software news analysis Apple confirms it will open up the iPad in Europe this fall The latest efforts to comply with Europe’s Digital Markets Act mean developers can offer to side load apps to both iPhones and iPads in the EU. Apple has also taken steps to improve what it offers to smaller and non-commercial developers in the By Jonny Evans May 02, 2024 6 mins iPad Apple Mobile Apps news Udacity offers laid-off US workers free access to its courses for 30 days Sign-ups will be available over the next 30 days By Lucas Mearian May 02, 2024 4 mins Technology Industry IT Jobs IT Skills 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