Competition & Markets Authority publishes its AI strategic update
Summary
On April 29, 2024, the Competition & Markets Authority (CMA) also published a strategic update on its approach to AI. The publication sets out the CMA’s understanding of the risks posed by AI, its current capabilities and how it plans to address AI issues. The CMA notes, in particular, that the U.K.’s Digital Markets, Competition and Consumers Bill (which is currently progressing through the U.K. Parliament) will enhance the CMA’s ability to protect competition, consumers and promote growth in the U.K. once in force. This follows the CMA’s update to its world-leading AI Foundational Models report which sets out key principles to ensure “fair, open and effective competition, to protect consumers, and to shape positive market outcomes” in the context of AI.
