Artificial intelligence could lead to a rise of scams and misinformation online, the competition watchdog has warned.
The Competition and Markets Authority (CMA) has sounded the alarm over generative AI, a technology that can produce human-like text, images and voice content based on prompts.
The CMA said the new tech exacerbated existing online harms –leaving consumers more vulnerable to email scams and fake reviews when shopping online.
Threat: The Competition and Markets Authority has sounded the alarm over generative AI, a technology that can produce human-like text, images and voice content based on prompts
Generative AI has exploded onto the scene in recent months, thanks to the rising popularity of OpenAI’s ChatGPT and Google’s Bard.
But this has led to concerns over limited regulation of the private companies at the vanguard of the technology and the potential power of AI to go wrong.
The CMA has said while there are benefits of the technology – including making tasks easier as well as boosting productivity – there needed to be caution over the way it develops.
‘We can’t take a positive future for granted,’ said CMA chief executive Sarah Cardell.
‘There remains a real risk that the use of AI develops in a way that undermines consumer trust or is dominated by a few players who exert market power that prevents the full benefits being felt across the economy.’
The CMA has published seven principles to regulate AI models, which look at building more accountability and transparency for businesses that want to use the technology.
Britain is set to host a global AI safety summit in November, which will be held at Bletchley Park and looks to shape an international approach to the emerging tech.
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