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ARTICLE · 02 OCTOBER 2023

The UK CMA's AI Foundation Models Initial Report

Norton Rose Fulbright Hong Kong
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The CMA's Initial Report (Report), published on 18 September 2023, considers three levels of the AI Foundation Model (FM) value chain...

United KingdomAntitrust/Competition Law
Miranda Cole
Miranda Cole

The CMA's Initial Report (Report), published on 18 September 2023, considers three levels of the AI Foundation Model (FM) value chain (although it focuses predominantly on the first two levels):

  1. Development of FMs
  2. How FMs are used in user applications and other markets
  3. The consumer experience when using AI tools (whether standalone or incorporated into other services).

The Report characterises FMs as large, general machine learningML[need to explain ML?] models trained on vast amounts of data, noting that approximately 160 FMs have been released to date (although some have already been become obsolete and been replaced). It also acknowledges that, while some FMs have been released by established players (Google, Meta, Microsoft and NVIDIA), new entrants include OpenAI, Anthropic, Stability AI and Midjourney.

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