UK reviews AI development: It can ‘drive substantial economic growth’

After investigating the effects of technology on consumers and the economy, the UK's Competition and Markets Authority (CMA) shifted its focus to artificial intelligence (AI).



On May 4, the regulator said it would be looking at the development and deployment of foundation models — applications like OpenAI’s ChatGPT — against key principles. Those include safety, transparency, fairness and accountability, among others.



Related: Will ChatGPT be banned?



Sarah Cardell, the chief executive of the CMA, commented that since AI tools “burst” into the public sphere, regulators have had their eye on it.




It’s a technology developing at speed and has the potential to transform the way businesses compete as well as drive substantial economic growth.




She   said that it is "crucial" for consumers and businesses in the U


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