LONDON (Reuters) -Britain’s competition regulator launched an initial review of artificial intelligence models on Thursday, saying it will look into competition and consumer protection considerations in the development and use of the technology.
“It’s crucial that the potential benefits of this transformative technology are readily accessible to UK businesses and consumers while people remain protected from issues like false or misleading information,” Competition and Markets Authority CEO Sarah Cardell said in a statement.
While research on AI has been going on for years, the sudden popularity of generative AI applications such as OpenAI’s ChatGPT and Midjourney have led to a scramble by lawmakers to find ways to regulate any uncontrolled growth, and unintended consequences.
Regulators around the world are now trying to find a balance where governments could develop “guardrails” without stifling innovation.
In Britain the government plans to split responsibility for overseeing AI between its regulators for human rights, health and safety, and competition, rather than creating a new body dedicated to the technology.
In the United States, where the main business lobbying group has called for regulation of AI technology, the administration started a study of possible rules to regulate the technology last month.
(Reporting by Muvija M; Editing by Kate Holton and James Davey)
