Following a joint statement by key figures in competition regulation, the Information Technology and Innovation Foundation (ITIF) has issued a response urging caution against speculative concerns about artificial intelligence (AI). The original statement was made by Margrethe Vestager, Executive Vice-President and Competition Commissioner of the European Commission; Sarah Cardell, Chief Executive Officer of the U.K. Competition and Markets Authority; Jonathan Kanter, Assistant Attorney General at the U.S. Department of Justice; and Lina Khan, Chair of the U.S. Federal Trade Commission.
Daniel Castro, Vice President of ITIF, stated: "Competition regulators continue to raise speculative concerns about AI firms that might sound compelling in speeches and law journals but do not match the reality of the market, which remains competitive and dynamic."
Castro emphasized that while anti-competitive behavior from market leaders is a legitimate concern for any sector, preemptive interventions based on worst-case scenarios should be avoided. He critiqued some principles proposed by regulators as potentially overreaching or misapplied due to their vagueness.
"The call for interoperability in AI systems is vague," Castro said. "Without clear definitions, this principle could lead to overreach or misapplication." He also criticized the emphasis on scrutinizing non-merger activities as potentially harmful and designed to justify recent inquiries retroactively.
Castro highlighted the global context of AI competition, particularly with China. He urged U.S. regulators and their allies to exercise caution to avoid harming U.S. competitiveness and technological advantage inadvertently.
"A more balanced approach is essential," he argued. This approach should address legitimate competition concerns based on evidence while nurturing AI innovation's potential in Western countries.
He further noted that policymakers must consider broader geopolitical implications when regulating AI development: "Maintaining a competitive edge in AI is crucial for national security and economic leadership."
At this juncture in AI development, Castro called for ensuring that competition regulators do not overstep their mandate or undermine other important societal goals.
