What the Competition Markets do?
The antitrust watchdog in Britain announced on Thursday that it has started an investigation into the artificial intelligence sector, concentrating on the technology that powers chatbots like ChatGPT. The Competition Markets Authority stated that it will investigate the advantages and disadvantages of AI, as well as any potential regulatory requirements and consumer protections.
How AI get attention the regulators and experts?
The ability of AI to replicate human behaviour has astounded users but also attracted the attention of regulators and experts throughout the world who are concerned about its hazards as its use increases and affects jobs, copyright, education, privacy, and many other aspects of daily life.
Why AI got the potential according to the Excutives?
According to Chief Executive, artificial intelligence has the power to change the way firms compete and spur significant economic growth. It’s critical that U.K. businesses and consumers have easy access to the potential advantages of this breakthrough technology while yet being shielded from problems like inaccurate or misleading information.
In the process of creating foundation models, the authority will look at competition and entrance hurdles. They fall under the general purpose AI umbrella and are also referred to as large language models. Examples include ChatGPT. Although these models’ algorithms are trained on sizable databases of online content, including blog posts and digital books, they still have limitations, such as a propensity to invent information.