66.1 F
New York
Sunday, May 19, 2024

FTC, DOJ Meet with G7 Enforcement Partners to Discuss Competition in Digital Markets

The Federal Trade Commission and Justice Department’s Antitrust Division participated in the G7 Competition Authorities and Policymakers’ Summit today to discuss how members are addressing competition concerns in digital markets, including in emerging technologies such as artificial intelligence (AI).

G7 competition authorities and policymakers issued a statement on digital competition at the conclusion of the Summit, which describes a shared commitment to enforce competition laws and develop policies necessary to ensure that principles of fair competition are applied to digital markets.

The statement highlights competition concerns arising from emerging technologies and describes the ways in which G7 members are enhancing their ability to better understand and anticipate the challenges to competition when dealing with new technologies such as generative AI. The statement emphasizes that current competition law applies to AI and its uses, and that G7 members are committed to addressing any risks to competition associated with the rise of AI.  

“Competition enforcers around the world are committed to ensuring that free, fair, and open competition prevails across our digital markets. At the G7 Summit, global enforcers have the opportunity to discuss key competition issues and to share best practices as we all work to promote competition in emerging technologies and to effectively enforce our competition laws,” said FTC Commissioner Rebecca Kelly Slaughter.  

In preparation for the Summit, G7 members contributed to the Compendium of Approaches to Improving Competition in Digital Markets, which describes competition agency efforts in digital markets.

The Summit was convened by the G7 Digital and Tech Ministers and hosted in Tokyo by Japan’s Secretariat of Headquarters for Digital Market Competition and the Japan Fair Trade Commission. Delegates from G7 authorities in Canada, France, Germany, Italy, Japan, the UK, the United States, and the European Commission participated in the event.

Official news published at https://www.ftc.gov/news-events/news/press-releases/2023/11/ftc-doj-meet-g7-enforcement-partners-discuss-competition-digital-markets

Images courtesy of PixaBay

- Part of VUGA Media Group -digital marketing best company

Latest article