The Competition & Markets Authority (‘CMA’) recently published its response to the Department for Digital, Culture, Media & Sport’s (‘DCMS’) policy paper on establishing a pro-innovation approach to regulating artificial intelligence (AI) on 29 September 2022. This response corresponds with the new National Security & Investment Act 2021 coming into force. The National Security & Investment Act will see the UK government upping its scrutiny of transactions that use AI to produce goods, services and technology with the potential to track individuals, objects and events.
What does the CMA’s response recommend? The CMA has pushed for the need to (i) adopt a risk based approach to the regulation of AI, (ii) consider whether existing regulatory powers are appropriate, and (iii) encourage collaboration between regulators. We have reviewed the CMA’s response in detail, please find our full post here.