On September 18th, 2023, the UK Competition and Markets Authority (CMA) released an initial report outlining proposed principles to promote competition and safeguard consumers in rapidly growing artificial intelligence markets. The CMA proposed seven principles to ensure AI foundation model development and use preserve effective competition while minimising consumer harm. The principles include accountability, access, diversity, choice, flexibility, fair dealing, and transparency.
While the report focuses on questions surrounding AI competition, the CMA pointed out that being early to release AI foundation models is no guarantee of success, as failures to comply with privacy regulations could become learning opportunities for organisations developing future models.
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