The UK Competition and Markets Authority (CMA) has warned about the potential risks associated with using artificial intelligence (AI). In its initial report into AI Foundation Models, the CMA highlighted concerns such as the proliferation of false information, fraud, fake reviews, and high prices for using the technology. While the CMA acknowledges the potential benefits of AI, the organisation stressed that dominance by entrenched players and the flouting of consumer protection laws could pose many threats. The CMA chief executive cautioned against assuming a positive outcome from the AI boom, stating that there remains a real risk that AI could undermine consumer trust or be dominated by a few players with market power.
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