Breaking Crypto News – What Measures Can Antitrust Chief Jonathan Kanter Take to Address Monopoly Risks in the AI Sector?
Breaking Crypto News – Jonathan Kanter, the US antitrust enforcer, will look into the country’s artificial intelligence (AI) industry in response to worries that a small number of corporations have undue influence. Kanter stated that he was looking at “monopoly choke points” and the competitive environment in AI in a Financial Times story. This comprises cloud service providers, hardware, technical talent, processing capacity, and data used to train large language models (LLMs).
Kanter asserts that the AI industry needs to move quickly to prevent the already powerful tech companies from controlling the whole market. Regulators are worried that AI is “at the high-water mark of competition, not the floor,” the official stated. Kanter pointed out that there are fewer graphics processing units (GPUs) available for training LLMs. According to the official, when demand rises, antitrust authorities also look at how semiconductor manufacturers distribute their cutting-edge products.
Government Aims to Increase Production, Kanter Says
GPU provider Nvidia reported first-quarter profits on May 23. Revenue increased by 262% over the previous year, according to the company. Following the publication of the study, the company’s stock price rose to a record high of $1,007, valuing the business at more than $2.5 trillion.
The government is already taking steps to increase production, according to Kanter. The subsidies given for the production of chips are included in this. A $39 billion subsidy for chip production in the nation was allocated when the Chips and Science Act was put into law in 2022.
FAQ
What are the Risks of Monopoly?
Monopolies hinder efficiency and innovation by acquiring businesses when they don’t have the best product and by driving up prices to increase profits.
What is the Purpose of Antitrust Enforcement?
Enforcing the antitrust laws, which set the standards for a competitive marketplace, is the FTC’s competition mission. These regulations shield customers from anticompetitive corporate actions and mergers while fostering a healthy competitive environment.
What is the Chips and Science Act?
The act aims to counter China and strengthen American supply chain resilience by providing $39 billion in subsidies for chip manufacturing on American soil, along with $13 billion for workforce training and research into semiconductors and 25% investment tax credits for equipment costs.
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