According to an article by Reuters Reuters, regulators from the United States, European Union, and the United Kingdom have signed a joint statement to ensure effective competition in the artificial intelligence (AI) sector. This initiative aims to promote fairness and prevent exclusionary practices that could harm consumers and stifle innovation. The statement was signed by prominent regulatory bodies, including the European Commission, the UK's Competition and Markets Authority, the US Department of Justice, and the Federal Trade Commission.

The joint statement emphasizes the need for transparency, fair dealing, and closer scrutiny of investments and partnerships between established companies and new market entrants. It outlines principles to safeguard against anti-competitive tactics and ensure that AI developments benefit all stakeholders. The regulators highlighted the importance of interoperability between AI products and services to foster innovation while maintaining privacy and security standards.

This collaboration marks a significant step towards a unified approach to AI regulation, addressing potential risks associated with dominant AI companies leveraging their position to undermine competition. The agreement aims to create a balanced and competitive AI market that promotes growth and innovation across the transatlantic region.