United Kingdom: Published CMA draft principles to guide competitive AI markets and protect consumers

On 18 September 2023, the UK Competition and Markets Authority (CMA) published its proposed draft principles to guide competitive Artificial Intelligence (AI) markets and protect consumers. The proposed guiding principles aim to ensure accountability, access, diversity, choice, flexibility, fair dealing, and transparency in the development and use of foundation models (FMs). FMs are versatile AI systems that can be adapted for various purposes and have the potential to drive innovation and economic growth. The CMA plans to engage with stakeholders to further refine these principles and monitor their adoption. The CMA goal is to shape the development of foundation models in a way that promotes competition, safeguards consumers, and maximises their benefits. An update on progress will be provided in early 2024.