White House Convenes Summit to Shape Competition Policy in the Era of Artificial Intelligence

The White House recently hosted a crucial meeting led by Lael Brainard, Assistant to the President and National Economic Advisor, to address competition policy concerning Artificial Intelligence (AI). The Administration emphasized its commitment to AI policies fostering fair, open, and competitive markets while creating opportunities for small businesses. Discussions revolved around the risks of concentration in the AI ecosystem, particularly in critical inputs like semiconductors, computing power, cloud storage, talent, and data. Participants highlighted concerns about collusive behavior and emphasized the need to scrutinize partnerships and investments in the industry.

The meeting also explored potential harms from a lack of competition in AI, including impacts on prices, quality, innovation, and privacy. Participants delved into the evolving landscape of competition law and policy in the context of AI, addressing challenges such as price-fixing and self-preferencing. The Biden-Harris Administration's dedication to promoting competition and innovation in AI was underscored, aligning with the President's Executive Order. Measures discussed included support for publicly-funded research initiatives, effective procurement tools, and a whole-of-government approach to competition policy and antitrust laws. Representatives from various White House councils and agencies, along with external participants from organizations such as the American Economic Liberties Project and the AI Now Institute, engaged in the comprehensive discussion.