The G7 Competition Summit, hosted by the Italian competition authority, focused on the regulatory challenges brought about by the rapid expansion of artificial intelligence, with a particular emphasis on Generative AI models and algorithms.

Authorities and agencies in attendance exchanged views on addressing competition and regulatory issues in digital markets through both preventive and corrective measures.

The European Commission shared insights on implementing the Digital Markets Act and the recently adopted AI Act to ensure fairness and contestability in digital markets, especially in the realm of AI.

Participants at the summit agreed to enhance cooperation, share knowledge, and develop a unified vision for competition policy and enforcement in the AI era among G7 countries.

The discussions highlighted the need for a comprehensive approach that combines robust antitrust enforcement with AI-specific regulation, digital capacity building, international cooperation, and broader policy considerations.