The Commission has concerns over the agreements between key players in the digital market and generative artificial intelligence (AI) developers, as well as providers. It is "looking into some of the agreements" and "investigating the impact of these partnerships on market dynamics," it said.
Therefore, the Commission has called for input from stakeholders to assess competition levels in virtual worlds and generative AI sectors, and seek expert insight on how competition law can safeguard the competitive nature of these emerging markets.
The Commission’s executive vice-president in charge of competition policy urged businesses and experts to identify any perceived competition issues within the virtual worlds and generative AI industries. The European Union (EU) is also "closely monitoring AI partnerships to ensure they do not unduly distort market dynamics."
Data released by the Commission revealed that venture capital investment in AI within the EU is expected to exceed 7.2 billion euros (around 7.88 billion U.S. dollars) in 2023, while the virtual worlds market in Europe is projected to surpass 11 billion euros. (1 euro = 1.09 dollar)