Regulatory authorities in the EU, UK and US have signed a joint statement to ensure effective competition in the AI sector, according Reuters. In the statement, they write that generative AI (genAI) has developed rapidly in recent years and that technological inflection points can introduce new ways to compete, innovate, grow, and catalyze opportunities.
The three parties also pledged that they will work together under their respective laws to ensure that the AI market remains competitive and that both consumers and businesses are treated fairly.
This includes fair treatment, prevention of exclusionary tactics, and close scrutiny of investments and collaborations between today’s AI bigwigs and rising upstarts in the market.