Regulators Not ‘Dazzled’ by AI Companies’ Attempts to Avoid Scrutiny

PYMNTS.com April 14, 2024

Antitrust regulators are reportedly not convinced by artificial intelligence (AI) firms’ suggested hands-off policy.

Speaking at an antitrust conference in Washington last week, Federal Trade Commission (FTC) Chair Lina Khan said technology companies have attempted to “dazzle” policymakers with the promise of AI, but to no avail, Bloomberg News reported Friday (April 12).

“There’s no exemption from the laws prohibiting collusion, laws prohibiting price fixing, laws prohibiting monopolization, the laws prohibiting fraud,” she said. “The FTC is going to take action.”

As Bloomberg noted, the world’s antitrust agencies have grown worried that several of the most promising startups in the AI sector rely heavily on tech giants like Microsoft and Google for funding and infrastructure.

The concern, the report said,...

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