Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK Competition Watchdog Raises Alarms Over Big Tech’s AI Dominance

by April 12, 2024
April 12, 2024
UK Competition Watchdog Raises Alarms Over Big Tech’s AI Dominance

The UK’s Competition and Markets Authority (CMA) has voiced significant concerns regarding the formidable grip of major technology corporations, including Apple, Amazon, and Microsoft, in the realm of artificial intelligence (AI), warning of potential harm to consumers.

The CMA is closely scrutinising AI foundation models, the potent digital engines propelling advancements in AI, which include large language models like ChatGPT, Google Bard, and Claude. These models, trained on vast datasets, can translate human language instructions into various outputs, such as code or images, and serve as the backbone for numerous AI innovations.

Having identified 90 partnerships and strategic investments involving tech giants such as Google, Apple, Microsoft, Meta Platforms, Amazon, and Nvidia, the CMA underscores the immense control these companies wield over critical resources like raw data and computing power. Additionally, their ownership of app stores and software platforms amplifies their influence over potential market avenues for generative AI models.

The authority remains resolute in learning from past digital monopolies, recognizing the need to prevent the concentration of power in the hands of a select few tech behemoths. As AI’s rapid evolution poses the risk of societal disruptions, regulators worldwide are vigilant in ensuring that big tech does not manipulate AI markets to its advantage.

Sarah Cardell, CEO of the CMA, emphasised the imperative of harnessing AI’s potential for societal good while safeguarding against market exploitation and unintended consequences. The CMA’s ongoing review of AI foundation models, initiated in May last year, underscores its commitment to navigating this transformative technological landscape responsibly.

In tandem with other regulatory bodies globally, such as the Federal Trade Commission in the US and France’s antitrust regulator, the CMA is closely monitoring big tech’s AI dominance. Investigations into partnerships, investments, and potential anticompetitive practices are underway, with a particular focus on Microsoft’s partnership with OpenAI.

Read more:
UK Competition Watchdog Raises Alarms Over Big Tech’s AI Dominance

0
FacebookTwitterGoogle +Pinterest
previous post
Darktrace on a high amid escalating cybersecurity concerns
next post
FBI Director Christopher Wray cites increased foreign threats in FISA reauthorization plea: ‘Rogues’ gallery’

You may also like

Soaring inflation ‘as bad as Covid’ for hospitality...

January 20, 2023

UK food price inflation hits highest level since...

August 31, 2022

How are payday loans calculated?

October 21, 2022

Reasons Your Business Should Invest in a Telecom...

December 23, 2022

Winter fuel payment U-turn in place this year,...

June 4, 2025

How Payday Loan Lenders Determine Your Eligibility: A...

September 26, 2024

Strategy Insights Top 5 AI Trends Shaping IT,...

December 23, 2024

Rayner’s workers’ rights overhaul could cost employers up...

October 22, 2024

More teacher strikes loom as unions vow to...

May 1, 2023

7 Ways Businesses Can Reduce Their Costs: A...

June 16, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Senate Republicans ram Trump’s ‘big, beautiful bill’ through key test vote

      June 29, 2025
    • Chief Justice Roberts sounds alarm on dangerous rhetoric aimed at judges from politicians

      June 29, 2025
    • Britain’s fastest-growing firms revealed for 2025: Dfyne, Nala’s Baby and Hawkstone lead the charge

      June 29, 2025
    • Schumer to force Senate reading of Trump’s entire ‘big, beautiful bill’

      June 28, 2025
    • Rubio condemns Iran’s ‘unacceptable’ threats against IAEA director

      June 28, 2025
    • Key blue state Republican says Senate’s local tax write-off offer is a ‘good deal’

      June 28, 2025

    Categories

    • Business (8,330)
    • Investing (2,081)
    • Politics (15,853)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved