Four regulatory bodies from the EU, U.K. and U.S. have released a statement of combined intent to study whether the AI industry allows for sufficient competition. The four groups are the European Commission, U.K. Competition and Markets Authority, U.S. Department of Justice and U.S. Federal Trade Commission. The statement doesn’t suggest any overarching regulation or the creation of a new regulatory body. “Our decisions will always remain sovereign and independent,” the statement reads. But, the organizations said, some cooperation is important because the risks stemming from the AI industry do not “respect international boundaries.” What does the joint statement say? The statement seeks to prevent risks to competition, such as entrenching existing AI firms of ecosystems, increasing barriers to entry or a lack of choice among buyers. There is […]
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