Regulators representing the UK, US and European Union (EU) signed a joint agreement outlining a set of principles to encourage AI safety and competitiveness, with agencies representing the trio pledging to use their respective powers to curb potential risks.

Signed by the UK Competition and Markets Authority (CMA), European Commission (EC), US Department of Justice (DOJ) and Federal Trade Commission (FTC), the principles focus on powerful foundation models and possible harm on competition and users.

The quartet referred to the need to control “key inputs” in developing AI systems, as well as putting more attention on the possibility of dominant AI companies extending power in AI-related markets.

Notably, the principles also identify “arrangements involving key players” as a factor that could pose risks to competitiveness, such as partnerships, financial investments and connections between companies related to generative AI (GenAI) development.

“In some cases, these arrangements may not harm competition, but in other cases these partnerships and investments could be used by major firms to undermine or co-opt competitive threats and steer market outcomes in their favour at the expense of the public,” the document read.

The regulators suggested AI companies should engage in “fair dealings” instead of deploying “exclusionary tactics”, adding innovation will likely be greater the more that “AI products and services and their inputs are able to interoperate with each other”.

“Any claims that interoperability requires sacrifices to privacy and security will be closely scrutinised.”

Partnerships between Big Tech and startups have been under the microscope recently, with Microsoft’s hiring of Inflection AI staff, and its partnership with OpenAI attracting scrutiny.

CMA chief executive Sarah Cardell said it joined forces with its US and European counterparts to “set out our commitment to help ensure fair, open and effective competition in AI drives growth and positive change for our societies”.

The joint effort with US and EU is CMA’s latest move to safeguard AI safety and competition. Last year, it detailed principles to promote accountability, access and choice in the AI ecosystem.