US, EU and UK Competition Authorities Publish Joint Statement on AI Competition
Summary
On July 23, 2024, the European Commission (EC), Competition & Markets Authority, DoJ and FTC published a joint statement on competition in generative AI foundation models and AI products, expressing their commitment to ensuring the fair and honest treatment of business and consumers. The statement notes that the authorities recognize the need to address potential competition risks early “given the speed and dynamism of AI developments.” In the statement, the authorities set out the key principles for protecting competition as regards AI: fair dealing; interoperability and choice. This statement suggests a more coordinated approach to AI going forward among the leading competition authorities.
Impacted Sectors
Additional Information
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