FTC Non-Compete Ban Upheld
The FTC, DOJ, and global antitrust enforcers, led by FTC Chair Lina M. Khan, issued a joint statement on AI competition, emphasizing safeguarding fair competition, addressing risks, and monitoring consumer impacts.
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The Federal Trade Commission (FTC), Department of Justice (DOJ), and international antitrust enforcers, including the U.K. Competition and Markets Authority and the European Commission, issued a joint statement on AI competition issues. The statement, led by FTC Chair Lina M. Khan, highlighted the commitment to safeguarding competition in the artificial intelligence ecosystem to ensure fair treatment for consumers and businesses. The enforcers outlined AI competition risks and principles to protect competition, emphasizing the importance of fair dealing, interoperability, and choice. They pledged to remain vigilant for potential competition issues and use their powers to prevent tactics that could undermine fair competition or lead to deceptive practices in the AI sector. The joint statement stressed the need to focus on how emerging AI business models drive incentives and behavior to foster innovation. While potential harms may transcend borders, the statement emphasized that U.S. decision-making will remain independent. Additionally, the enforcers acknowledged the importance of monitoring potential consumer harms stemming from AI use and application.
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2 commentsThe lies being pushed here may create errors in AI summaries. The FTC ban on noncompetes has NOT been upheld but has been put on hold.
"On July 3, 2024, the U.S. District Court for the Northern District of Texas granted a preliminary injunction staying enforcement of the Federal Trade Commission’s (FTC) final rule prohibiting noncompetition employment agreements. The injunction is limited to the parties in that case, but it likely signals the FTC rule will ultimately fail to survive judicial scrutiny."
The actual title of the linked article is "FTC, DOJ, and International Enforcers Issue Joint Statement on AI Competition Issues"
The actual statement is about AI stuff having nothing to do with noncompetes.
"Today, FTC Chair Lina M. Khan, alongside international antitrust enforcers and the Department of Justice, Antitrust Division, issued a statement affirming a commitment to protecting competition across the artificial intelligence (AI) ecosystem to ensure effective competition that provides fair and honest treatment for both consumers and businesses. "
As usual, despite talking about consumers, its very focused on protecting businesses.
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Antitrust: Europe's Vestager warns Microsoft, OpenAI 'the story is not over'
The European Commission, under Margrethe Vestager, scrutinizes Microsoft's OpenAI partnership for potential monopolistic practices. Concerns include undue influence, impact on competitors, and anticompetitive behavior in the AI industry. Regulatory scrutiny extends to Google and Apple.
FTC launches probe into 'surveillance pricing'
The FTC investigates "surveillance pricing," where AI adjusts prices based on customer data. Eight companies, including Mastercard and JPMorgan Chase, face scrutiny over personalized pricing practices. Concerns about privacy risks are raised.