According to Dolphin Research APP, on Monday, the Competition and Markets Authority (CMA) in the UK has established seven new principles for regulating artificial intelligence (AI) to protect consumers and guide the market. CMA stated, &#34;The latest developments in foundational models and their rapid adoption in multiple user applications such as ChatGPT and Office 365 Copilot highlight their potential to stimulate innovation and economic growth.&#34; &#34;(Foundational models) have the potential to transform our lives and work, as well as a range of industries - changes that could happen rapidly and have significant implications for individuals, businesses, and the UK economy.&#34;
Sarah Cardell, CEO of CMA, stated in a declaration that the speed at which artificial intelligence is integrating into everyday life is &#34;astonishing.&#34;
Cardell said, &#34;This technology does indeed have the potential to enhance productivity and make the daily work of millions of people easier, but we cannot take a positive future for granted.&#34; &#34;The use of artificial intelligence still carries a genuine risk of developing in a way that undermines consumer trust or is dominated by a few companies wielding market power, thereby hindering the full benefits for the entire economy.&#34;
The seven principles for regulating artificial intelligence include accountability, accessibility, diversity, choice, flexibility, fair trading, and transparency.
As part of this process, CMA stated that it will engage in discussions with individuals and organizations to gather their opinions on the matter, including Google, Meta, Microsoft, NVIDIA, Anthropic, and OpenAI, the creators of ChatGPT.
Earlier this year, Microsoft invested billions of dollars in OpenAI and integrated the technology into many of its products, including Office 365 Copilot.
CMA also stated that it will communicate with consumers and social groups, government experts, and other institutions, and will publish the results of the investigation early next year.

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The Competition and Markets Authority (CMA) in the UK has established seven new principles for regulating artificial intelligence (AI) to protect consumers and guide the market.

The UK has formulated AI regulatory principles and plans to seek opinions from companies such as Microsoft.