Displaying items by tag: competition watchdog

The UK competition watchdog has launched a review of the artificial intelligence market, as it warned of threats from AI tools including the distribution of false or misleading information. This announcement comes as global regulators increase scrutiny of the technology, look at the underlying systems, and foundation models behind AI tools such as ChatGPT. The US vice-president invited the CEOs of leading AI firms to the White House on 5 April to discuss how to deal with the safety concerns around the technology in a week when hundreds of millions of pounds were wiped from the share price of UK’s education company Pearson after a US provider of online help to students revised its financial forecasts and warned ChatGPT was affecting customer growth. Global companies like Google, Apple and Amazon may have to pay penalties of up to 10% of their turnover as the Government gives its competition watchdog more power.

Amazon and Google are under UK competition watchdog scrutiny regarding fake reviews on their platforms. The competition regulator is probing the tech giants in relation to breaches of consumer protection law. Their ‘specific concerns’ were raised about whether the two companies were ‘doing enough’ to detect ‘fake and misleading reviews or suspicious patterns of behaviour.’ An initial sweep, begun in May 2020, cast doubts on whether the firms investigate and remove such reviews, and if they impose ‘adequate sanctions’ to deter reviewers or businesses from violating rules on honest posts - in particular by taking action against repeat offenders. ‘Our worry is that millions of online shoppers could be misled by reading fake reviews and then spending their money based on those recommendations’, said the watchdog. Last September, Amazon had to delete 20,000 product reviews, written by seven of its top UK reviewers, following a Financial Times investigation discovering reviewers were paid to post thousands of five-star ratings.