As the development of the artificial intelligence (AI) foundation model market continues at a rapid pace around the globe, regulators are working hard to keep up. In step with this trend, the UK’s Competition and Markets Authority (CMA) has published an initial report outlining its guiding principles for overseeing this evolving sector.
Over a period of five months, the CMA undertook an initial review of the AI foundation model market. The process allowed it to take stock of the industry and formulate guiding principles to ensure the development and deployment of these models complies with the market regulations. The initial report of this review was published on the 18th of September, 2023.
Taking a vigilant standpoint, the CMA, like many regulators worldwide, has been keeping a close eye on the expansion of the AI foundation model market. It hopes that by establishing clear guiding principles, it can facilitate the industry’s growth while also safeguarding consumer and competition rights.
For the complete report and further understanding, readers may refer to the original document published by Cooley LLP, a cornerstone in the world’s legal publishing landscape.