Competition authorities in the European Union (EU), United Kingdom, and United States issued a joint statement on Tuesday (July 23) to ensure fair competition as generative artificial intelligence (AI) becomes more prevalent.

The Western trio say they recognise the potential of AI technologies, including foundation models, which can materially benefit citizens. However, they also acknowledge the substantial risks that accompany these new technologies.

While each authority operates within its own legal and jurisdictional framework, there is a mutual recognition that the challenges posed by AI do not respect international boundaries.

The joint statement outlines several principles to promote competition and innovation within the AI ecosystem, including encouraging firms to engage in fair competition without exclusionary tactics and ensuring AI products and services can interoperate to foster competition and innovation.

The authorities are also mindful of other potential risks associated with AI, such as price fixing, collusion, and unfair price discrimination. They are committed to monitoring these risks and acting to prevent harm to competition and consumers.

The authorities say they seek to address the concentrated control of key inputs, competition stifling, and market manipulation as key risks.