UK Makes Bold Move to Regulate AI Dominance
Market News

UK Makes Bold Move to Regulate AI Dominance

Story Highlights

The UK regulator laid out new AI principles today.

In a landmark move, the UK’s Competition and Markets Authority (CMA) has outlined seven principles to ensure accountability and transparency in the development and use of artificial intelligence (AI) models. These principles aim to prevent the dominance of a few tech giants, promote competition, and protect consumers.

The CMA seeks to regulate foundational models like ChatGPT, prevent tech companies from controlling AI within walled platforms, and curb anti-competitive behavior. The move comes ahead of a global AI safety summit in the UK and will guide the CMA’s approach to AI as it gains new powers to oversee digital markets.

According to a Reuters report, the UK’s seven principles seek to “cover access to key inputs, diversity of business models including both open and closed, and flexibility for businesses to use multiple models.”

The regulator will now seek input from major AI developers, including Google (GOOGL), Meta Platforms (META), OpenAI, Microsoft (MSFT), and Nvidia (NVDA).

BOTZ ETF – For Exposure to AI Companies

For investors interested in getting exposure to AI companies, the Global X Robotics & Artificial Intelligence ETF (BOTZ) is a viable option. The BOTZ ETF has gone up by more than 20% year-to-date.

Related Articles
Yulia VaimanRobotics Stocks: Bot is Man’s Best Friend
Amit SinghTech Stocks Roared Back in 1H23; Will the Bull Run Sustain in 2H?
Go Ad-Free with Our App