According to Cointelegraph, the G7 antitrust authorities said they would take "strong" enforcement actions to protect competition in the field of artificial intelligence to address risks that could become "entrenched or irreversible."
In an Oct. 4 communique following a two-day summit in Rome, regulators said they want to reduce âcompetitive bottlenecksâ that hinder new AI entrants and allow incumbent companies to often get preferential access to generative AI tools, data and specialized chips.
They added that they wanted to ensure AI was not used to facilitate âcollusionâ between AI companies, which could lead to price fixing, sharing of competitively sensitive information or the creation of monopolies.
The group, which includes authorities from the United States, United Kingdom, Japan, Canada, France, Germany and Italy, is also concerned with ensuring AI is not misused to impact copyright, consumer protection, privacy and data protection.
The communiqué pointed out that generative AI systems could harm content creators and innovators, leaving them undercompensated for their work and suppressing human creativity and innovation.
Ensuring that AI systems do not distort the consumer decision-making process through false or misleading information is critical to maintaining consumer trust and promoting a healthy competitive environment.
Regulators say keeping pace with AI developments, establishing AI laws and strengthening international cooperation are three responsibilities to achieve more favorable outcomes for the AI ââmarket.
They also proposed âguiding principlesâ for ensuring open and fair AI markets, including fair competition, fair access and opportunity, choice, interoperability, innovation, transparency, and accountability.
The group stressed that open technology standards will foster innovation while mitigating the concentration of market power and preventing consumers and businesses from being locked into closed ecosystems.
The G7 is an informal grouping of industrialized democracies that meets annually to discuss a wide range of issues, from global economic governance and international security to emerging issues such as the AI ââmarket.