Big Tech market power will cause UK to lose AI race, think tank warns
Britain's market watchdog criticized for not creating the conditions for competition to thrive
A recent report from the Institute for Public Policy Research (IPPR) warns that the market power of Big Tech could hinder the UK's ability to benefit from AI, a crucial element of the government's economic recovery plans. The report highlights that a small number of companies hold near-total control over the digital infrastructure used within the UK, and warns that the nation risks allowing AI to become monopolized, similar to other industries.
A survey conducted for the report found that 79 percent of UK businesses that rely on digital platforms are concerned about Big Tech using their dominance to limit competition, ranking it as a greater constraint on their growth than access to finance or talent.
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