The Competition and Markets Authority (CMA) has set out principles to ensure the responsible development and use of Fundamental Models (FM).
FM is a versatile AI system that has the potential to revolutionize a variety of fields, from information access to healthcare. His CMA report, published today, outlines a series of guidelines aimed at ensuring consumer protection and promoting healthy competition within this fast-growing industry.
Known for its adaptability to diverse applications, the underlying model has been rapidly adopted by a variety of user platforms, including household names such as ChatGPT and Office 365 Copilot. These AI systems have the power to drive innovation and stimulate economic growth, promising transformative change across sectors and industries.
Sarah Cardel, CEO of the CMA, emphasized the urgency of proactively intervening in AI.
“The speed at which AI is becoming a part of people's and businesses' daily lives is remarkable. This technology has real potential to significantly improve productivity and make millions of everyday tasks easier. But we cannot take a positive future for granted.
That is why we have today launched a broad engagement program to propose these new principles and ensure that the development and use of the underlying model evolves in a way that promotes competition and protects consumers.
We hope that our collaborative approach will help realize the full potential of this new technology, but we remain ready to intervene if necessary. ”
According to research by Earlybird, the UK has the highest number of AI startups in Europe. The CMA report highlights the immense benefits that can be achieved if the development and use of FM is managed effectively.
These benefits include the emergence of better products and services, enhanced access to information, breakthroughs in science and medicine, and even lower prices for consumers. Additionally, a vibrant FM market opens the door for a wider range of companies to compete and potentially challenge existing market leaders. This competition and innovation, in turn, can boost the economy as a whole, driving productivity gains and economic growth.
Claire Trachet, technology industry expert and CEO of business advisory firm Trachet, said:
“with” [UK-hosted] global AI Safety Summit The impending publication of these principles shows the public and investors that the UK is committed to safely regulating AI. To continue this momentum, it is important for the UK to strike a balance between creating effective regulation without stifling growing innovation and investment.
Ensuring that regulation is well designed and effective will attract and retain investment into the UK by creating a stable, safe and reliable business environment that is attractive to domestic and international investors. will help you. ”
The CMA report also issues a warning. This highlights potential risks if competition remains weak or if developers ignore consumer protection regulations. Such blunders can expose individuals and businesses to significant levels of misinformation and AI-powered fraud. In the long run, a small number of powerful companies may exploit FM to consolidate their market power, offering substandard products and services at exorbitant prices.
Although the scope of the CMA's initial review focused primarily on competition and consumer protection concerns, it also considered other important issues related to FM, including copyright, intellectual property, online safety, data protection and security. We acknowledge that these issues require further consideration.
Shridhar Iyengar, Managing Director of Zoho Europe commented:
“The safe development of AI is at the heart of UK policy and will continue to play a key role in the UK’s ambitions to lead the global AI race. Despite public concerns about the trustworthiness of AI. , we should not lose sight of the business benefits that AI offers, such as improved predictions and data analysis, and should work toward solutions.
Collaboration between business, government, academia, and industry experts is essential to balance safe regulations and guidance that lead to the active development and use of innovative business AI tools.
AI will move forward with or without the UK, so it’s best to lead research and development to ensure a safe evolution. ”
The draft guidance published by the CMA aims to guide the continued development and use of FM so that people, businesses and economies can maximize the benefits of innovation and growth. Inspired by the evolution of other technology markets, these principles aim to guide FM developers and adopters into the next key areas.
- Accountability: Developers and deployers are responsible for the output delivered to consumers.
- access: Ensure continuous access to critical inputs without unnecessary restrictions.
- Diversity: We encourage sustained diversity in business models, including both open and closed approaches.
- choice: Provides businesses with ample options to decide how to effectively leverage FM.
- Flexibility: Flexibility to switch and use multiple FMs as needed.
- fairness: Prohibition of anti-competitive behavior such as self-interest, tying, and bondage.
- Transparency: Provides consumers and businesses with information about the risks and limitations of FM-generated content, enabling them to make informed choices.
Over the coming months, the CMA will be engaging extensively with a range of stakeholders in the UK and overseas to further develop these principles. This joint effort aims to support the positive growth of the FM market and promote effective competition and consumer protection.
Gareth Mills, partner at law firm Charles Russell Speechlis, said:
“The principles themselves clearly encourage a dynamic sector with low entry requirements, allowing smaller players to compete effectively with more established names, while at the same time preventing AI technologies from having a negative impact on consumers.” It is intended to reduce the
The report itself states that although the CMA has established a number of core principles, there is still work to be done and that there are stakes both within the UK and internationally to ultimately establish a formal policy and regulatory position. It is pointed out that feedback from the public is necessary.
As the use of technology increases, the degree of mismatch between competitive objectives and government strategy will become clearer. ”
An update on the CMA's progress and uptake of these principles will be published in early 2024, reflecting the Authority's commitment to shaping the AI market in a way that benefits people, businesses and the UK economy as a whole. is.
(Photo provided by JESHOOTS.COM, Unsplash)
See also: UK touts AI's potential for international development at UN
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