G7 Competition Regulation Summit: AI Giants, Give Startups Room to Grow, GenAI, Don't Take Away Creators' Opportunities

The 50th summit of the Group of Seven (G7) industrialized nations was recently held in Rome, Italy, with a two-day summit in which one of the sessions was the "G7 Competition Regulators and Policy Makers Summit." The focus of this summit was on the development of artificial intelligence (AI), specifically discussing the risks and challenges that Generative AI (GenAI) poses to competitive markets due to its rapid advancement. The meeting also established some principles for the development of AI, emphasizing the need to strengthen antitrust enforcement to prevent large companies from abusing market dominance and ensuring the safety and fairness of AI technology.

AI Giants Monopolize Resources, Threatening Startups

AI technology can stimulate the economy and increase productivity, but it also brings competitive risks. The G7 points out that due to the high costs and reliance on massive amounts of data in the AI market, large companies are prone to monopolizing the market, making it difficult for startups to enter. The G7 is also concerned that some tech giants may use their advantages to monopolize AI-related resources, bundling sales, and favoring their own products and services, leaving consumers with no other choice and thereby setting high barriers to entry into the market. Currently, the G7 has reached a consensus to take enforcement actions against monopolies to safeguard fair competition in the market.

Note: Bundling sales refers to companies packaging products as a set for sale, forcing consumers to purchase the entire set rather than choosing individual items.

GenAI Infringing on Data Privacy and Creators' Rights

The G7 is also focusing on the potential social risks that GenAI may bring in terms of consumer protection, privacy, and data usage. Since GenAI relies on a large amount of human-created content for training, this could infringe on the rights of creators, especially when data is used without authorization. In addition, the G7 emphasizes the need to ensure that AI avoids providing false or misleading information and calls on countries to strengthen privacy regulations.