Global leaders commit to ensuring fair and open markets for AI technologies amid growing antitrust concerns.
Officials from the Federal Trade Commission (FTC) and the Department of Justice’s Antitrust Division participated in the G7 Competition Authorities and Policymakers Summit in Rome, Italy, to address competition issues in AI-related technologies. At the summit’s conclusion, FTC Chair Lina Khan, with other representatives, issued a Communiqué that outlined key competition concerns in AI markets. The document emphasized the importance of monitoring concentrated market power and potential collusion in AI, and highlighted the need for competition enforcement to ensure open and fair markets.
The FTC stated, “The Communiqué underscores the important role that competition authorities and policymakers have in addressing competitive threats. As the Communiqué outlines, concentrated market power in AI-related markets and possible collusion or improper information sharing using AI technologies require careful vigilance and vigorous and timely competition enforcement. The G7 competition authorities and policymakers reaffirmed that they are working to ensure there is open and fair competition in digital markets and AI and seeking to ensure that the benefits of AI are fully realized and widely available across society.“
As the Lord Leads, Pray with Us…
- For Chair Khan and commissioners of the FTC to be discerning in their engagements with foreign ministers and leaders.
- For U.S. officials to seek God’s direction as they crafted agreements with international nations.
Sources: Federal Trade Commission
