U.S. Antitrust Official Launches Probe into AI Sector to Prevent Monopolization
Summary:
U.S. antitrust official, Jonathan Kanter, has initiated an investigation into the American AI industry due to concerns of excessive control by a small set of firms. The review will cover areas like computational capabilities, data, cloud services, technical talent, and hardware. With AI competition at an all-time high, Kanter stressed timely intervention and government support, referencing the Chips and Science Act of 2022. Furthermore, concerns are raised over the potential monopoly of artificial general intelligence by major tech firms, suggesting the need for decentralized AI development.
Jonathan Kanter, a top United States antitrust official, has announced an investigation into the American AI (artificial intelligence) industry following worries over a small number of firms having excessive control. In a discussion with the Financial Times, Kanter expressed concerns over AI's competitive environment and the risk of "monopoly choke points", citing factors such as computational capabilities, data for training large language models (LLMs), cloud services, hardware, and technical expertise. The official underscored the need for immediate measures to prevent powerful tech firms from monopolizing the market.
Regulators believe that AI competition has reached a peak rather than a baseline, according to Kanter. The official added that interventions made in real-time could be more effective and less intrusive. Kanter pointed out that graphic processing units (GPUs) used to train LLMs are becoming increasingly rare and antitrust officials are monitoring how advanced products are being allocated by chip producers in the face of rising demand.
Nvidia, a GPU supplier, on May 23rd, disclosed that its year-on-year revenue has leaped by 262%, pushing its market valuation beyond $2.5 trillion. This resulted in a new record high for its stock prices at $1,007. Nvidia's revenue surge came following the release of its Q1 earnings report. Jonathan Kanter mentioned current governmental initiatives aimed at supporting production, including subsidies like the Chips and Science Act of 2022, which allocated $39 billion for domestic chip production.
In 2023, Janet Adams, SingularityNET’s COO, warned about the potential monopoly of artificial general intelligence (AGI), a type of AI that has human-like cognitive abilities, by major Tech firms. Adams, in an interview, suggested that the fearsome future often associated with AI could become a reality if the technology falls under monopoly control. Adams is of the opinion that these major corporations could exploit the technology for their profit, leading to an increase in global inequality. She argued that decentralizing AI development via blockchain technology is crucial to mitigate these risks.
Published At
6/6/2024 10:53:40 AM
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