US agencies, international partners commit to protecting artificial intelligence competition

ISTANBUL

Two US agencies, along with international antitrust enforcers, are committed to protecting competition across the artificial intelligence (AI) ecosystem that provides fair and honest treatment for consumers and businesses.

Jonathan Kanter, assistant attorney general with the Justice Department and Federal Trade Commission (FTC) Chair Lina Khan joined forces with Sarah Cardell, CEO of the UK Competition and Markets Authority (CMA) and Margrethe Vestager, executive vice-president and competition commissioner for the European Commission.

"While AI has the potential to become one of the most significant technological developments of the past couple of decades, it also raises competition risks that may prevent the full benefits of AI from being realized," the FTC said Tuesday in a statement.

All four officials pledged to remain vigilant to potential competition issues and expressed determination to use available powers to safeguard against tactics that would undermine fair competition, or lead to unfair or deceptive practices in the AI ecosystem.

They stressed the importance of focusing on how emerging AI business models drive incentives, and ultimately behavior.

The FTC, along with the Justice Department and CMA, also have a consumer protection mission, said the statement, as they noted the need to continue to monitor potential harms to consumers that may arise from the use and application of AI.