In October 2016, the European Parliament and the UK House of Commons
took the baton in their hands about preparing a society which is efficient in
use of artificial intelligence (AI) i.e. designing a ‘good AI society’, where
roles of the above mentioned government bodies was to regulate the use of
AI in private sector, research community and academia, and put up timely
recommendations when there was a need for improvement.
The official and latest entity to regulate AI is the United Kingdom’s
antitrust watchdog or The Competition and Markets Authority (CMA).
While the research on AI has been going on for years now, the sudden
popularity of generative open AI applications like ChatGPT and
Midjourney has led the watchdogs into a rush for a regulation of order to
steer clear of unwanted consequences. As the algorithms on these
applications use enormous knowledge of digital books, blogs, articles,
research papers but has a tendency to alterations of information.
In an official statement on May 4th , Sarah Cardell , CEO , CMA said “AI
has burst into the public consciousness over the past few months but has been on
our radar for some time.” It is to be understood that AI is the fastest growing
technology and has the potential to transform the way industry compete as
well as generate evident economic growth.
The CMA is further taking these steps to ensure that there is no misuse of
the technology rather guarantee open markets that are not controlled by a
few powerful oligarchs which maintains the equilibrium of the businesses.
In conclusion of Sarah’s press release, CMA has provided a timeline till
June 2 to supply evidence for its investigation, with the process expected to
be completed by this September. The need for guardrails is necessary but
also becomes a fragile step as it might hamper the innovation in technical