The American Bar Association (ABA) Chair’s Showcase on AI Foundation Models is underway, exploring the influence of artificial intelligence (AI) on legal matters. Competition law advisors should take note of how AI is reshaping the legal landscape, potentially affecting businesses involved in competition law cases.

The UK Competition and Markets Authority (CMA) highlighted the impact of generative AI on competition and consumer protection. They stressed the need to ensure fair competition and consumer protection in markets utilizing foundation models, cautioning against risks posed by a few dominant technology firms shaping market developments to the detriment of competition and consumers.

The CMA proposed guiding principles like access, diversity, choice, fair dealing, transparency, and accountability to steer market outcomes positively. Competition law advisors should be vigilant about the risks associated with the increasing presence of major technology firms in the foundation models sector, emphasizing the importance of upholding fair competition and consumer protection to foster innovation and societal benefits.

Advisors are advised to monitor partnerships and investments across the value chain to prevent potential abuse of market power in this evolving landscape.