G7 Authorities Vow to Enforce Competition Laws in AI Markets

PYMNTS.com October 4, 2024

Competition authorities and policymakers have a role in addressing competitive threats in artificial intelligence-related technologies, products and applications, the Federal Trade Commission and the Department of Justice’s Antitrust Division said in Friday (Oct. 4) press releases about their participation in the G7 Competition Authorities and Policymakers Summit.

Following the summit hosted in Rome by the Italian Competition Authority, FTC Chair Lina M. Khan was among the representatives of these authorities and policymakers who issued a communique highlighting potential competition concerns and identifying guiding principles to ensure fair competition in AI markets, according to the FTC’s press release.

Potential competition concerns include concentrated market power in AI-related markets and possible collusion or improper information sharing using AI technologies, the release said.

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