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U.S. and European regulators are collaborating to prevent the artificial intelligence industry from being dominated by a few major companies, aiming to avoid monopolistic threats that hinder competition in digital markets. The Federal Trade Commission and Department of Justice, along with their foreign counterparts, issued a joint statement emphasizing the importance of maintaining fair competition in the AI sector.
The regulators expressed concerns over the potential for AI to follow the same path as previous digital markets like social media and online advertising, where monopolies emerged due to lack of regulatory intervention. By working together, authorities from the U.S., European Union, and the United Kingdom aim to safeguard the interests of their economies and ensure a level playing field for AI companies.
Hindustan Times 14month
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