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AI boom may not have positive outcome: UK competition watchdog

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The UK's Competition and Markets Authority (CMA) alerts about risks associated with the artificial intelligence (AI) boom.

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CMA warns about the dominance of entrenched players in AI and violations of consumer protection law.

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AI systems like the ChatGPT chatbot and Stable Diffusion image generators, driven by 'foundation models', could take away white-collar jobs.

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Sarah Cardell, CMA chief executive, emphasizes that AI's benefits to daily life and business productivity should not lead to blind optimism about a positive future.

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CMA reports around 160 foundation models from companies including Google, Meta, Microsoft, OpenAI, and UK-based Stability AI.

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The CMA proposes a set of principles for AI development, including access to data and computing.