UK Regulator Warns of AI Market Dominated by Just 6 Tech Giants
• UK competition regulator concerned about concentration of power and anti-competitive nature of AI technology in hands of just 6 big tech companies
• These 6 companies have over 90 investments and partnerships, limiting diversity and choice in AI market
• Regulator warns of "winner takes all" dynamics allowing dominance of a few powerful platforms, wants to apply lessons of history
• Sees 3 interlinked risks - companies controlling critical inputs, using market power to distort choice, partnerships exacerbating concentrations of power
• Regulator first announced plans to investigate AI market in May 2023 due to concerns technology may not have positive outcomes and could undermine consumer trust