United

Rome

G7 nations’ antitrust authorities signaled they may take “vigorous” enforcement action to protect competition in the artificial intelligence sector by tackling risks before they become “entrenched or irreversible.”
The watchdogs <a data-ct-non-breakable="null" href="https://en.agcm.it/dotcmsdoc/pressrelease/G7%202024%20-%20Digital%20Competition%20Communiqu%C3%A9.pdf" rel="null" target="null" text="null" title="null">said</a> in an Oct. 4 communiqué after a two-day summit in Rome that they want to reduce the “competitive bottlenecks” that hinder new AI entrants in comparison with established firms, which often get first access to generative AI tools, data and specialized chips.
They intend to ensure that market power isn’t used to facilitate “collusion” <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ai-market-saturated-investment" rel="null" target="null" text="null" title="null">between AI firms</a> that could lead to sharing competitively sensitive information and controlling prices — or creating a monopoly.
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 <img alt="G7 antitrust watchdogs signal possible action on AI sector competition" src="https://s3.cointelegraph.com/uploads/2024-10/019264dc-f337-7260-9261-58d08e07e2f3" title="">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/EU_Competition/status/1842191993436311626" rel="null" target="null" text="null" title="https://x.com/EU_Competition/status/1842191993436311626">EU Competition</a>
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The group, comprised of authorities from the United States, United Kingdom, Japan, Canada, France, Germany and Italy, is also focused on ensuring AI isn’t misused to impact copyright, consumer protection, privacy and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/itheums-role-in-addressing-the-data-needs-of-the-ai-era" rel="null" target="null" text="null" title="null">data protection.</a>
“Generative AI systems could harm content creators and innovators, leaving them under-compensated for their work and stifling human creativity and innovation,” they said in the communiqué.
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 “Ensuring that AI systems do not distort consumer decision-making processes through false or misleading information is critical to maintaining consumer trust and promoting a healthy competitive environment.”
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ai-chatbots-getting-worse-over-time-academic-paper" rel="null" target="null" text="null" title="null">AI chatbots are getting worse over time — academic paper</a>
The watchdogs said keeping up to date with AI developments, establishing AI laws and enhancing international cooperation were three responsibilities that would help them achieve more favorable outcomes in AI markets.
They developed “guiding principles” to ensure AI markets are open and fair, which include fair competition, fair access and opportunity, choice, interoperability, innovation, transparency and accountability.
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 <img alt="G7 antitrust watchdogs signal possible action on AI sector competition" src="https://s3.cointelegraph.com/uploads/2024-10/019264dc-4f7d-7107-a1a1-9674da55710a" title="">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/EdLlewellynFCDO/status/1842513690911793267" rel="null" target="null" text="null" title="https://x.com/EdLlewellynFCDO/status/1842513690911793267">Ed Llewellyn</a>
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The group said that open technical standards would promote innovation while mitigating the concentration of market power and “preventing consumers and businesses from being locked into closed ecosystems.”
The G7 is an informal bloc of industrialized democracies that meets annually to discuss a wide range of topics, from global economic governance and international security to emerging issues <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ai-tokens-lose-4-69b-october-crypto" rel="null" target="null" text="null" title="null">including AI markets.</a>
The Federal Trade Commission and the Department of Justice represented the US at the G7 Competition Summit, which was hosted by the Italian Competition Authority. Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/advanced-ai-system-already-self-aware-asi-alliance-founder-agi/" rel="null" target="null" text="null" title="null">Advanced AI system is already ‘self-aware’ — ASI Alliance founder</a>

G7 antitrust watchdogs signal possible action on AI sector competition

Cointelegraph

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