The parties pledged to will work together to ensure that consumers and businesses are treated fairly in the AI market. Credit: iQoncept - shutterstock.com Regulatory authorities in the EU, UK and US have signed a joint statement to ensure effective competition in the AI sector, according Reuters. In the statement, they write that generative AI (genAI) has developed rapidly in recent years and that technological inflection points can introduce new ways to compete, innovate, grow, and catalyze opportunities. The three parties also pledged that they will work together under their respective laws to ensure that the AI market remains competitive and that both consumers and businesses are treated fairly. This includes fair treatment, prevention of exclusionary tactics, and close scrutiny of investments and collaborations between today’s AI bigwigs and rising upstarts in the market. Related content opinion Agentic RAG AI — more marketing hype than tech advance CIOs are so desperate to stop generative AI hallucinations they’ll believe anything. Unfortunately, Agentic RAG isn’t new and its abilities are exaggerated. By Evan Schuman Aug 16, 2024 5 mins Technology Industry Generative AI Emerging Technology news Researchers tackle AI fact-checking failures with new LLM training technique Deductive Closure Training (DCT) looks to address the problems of LLM bias, misleading information, and outright contradiction. By John E. Dunn Aug 15, 2024 4 mins Generative AI IBM Technology Industry news MIT delivers database containing 700+ risks associated with AI Called the AI Risk Repository, the goal, its creators say, is to provide an accessible and updatable overview of risk landscape. By Paul Barker Aug 15, 2024 1 min Generative AI Security news brief Hollywood unions OK AI-cloned voices in commercials But companies must first obtain consent from the actor for any ad that uses the digital voice copy. By Viktor Eriksson Aug 15, 2024 1 min Generative AI Technology Industry Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe