The recent conference on “The Digital Market Effect of Generative AI” at the European University Institute brought together experts to discuss the pressing need for regulation in the rapidly evolving field of generative AI. The consensus was clear: existing rules may not be enough, and new ones are needed to prevent the concentration of market power and ensure fair competition. Portugal’s competition authority president, Nuno Cunha Rodrigues, highlighted the disproportionate access to data, computing power, and know-how that gives a few powerful firms a competitive edge. The use of massive amounts of data also raises concerns about GDPR and intellectual property rights. The conference also explored the need for regulators to look closely at “partnerships” between AI firms, which may be used to evade current merger regulations and create barriers to entry.
Regulating Generative AI – A Delicate Balance
“AI is introducing a moment of contestability” that “creates new points of entry into existing markets, exactly like the Internet did,” said Cunha Rodrigues.
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