FTC Chair Targets Tech Giants’ AI & Monopoly

Washington, D.C. – Federal Trade Commission Chair Lina Khan, the youngest FTC chair appointed by President Biden in 2021, is leading efforts to address the alleged anti-competitive practices of massive tech companies. One of her focus areas is Artificial Intelligence (AI). 

Khan is concerned about the potential risks posed by AI to American consumers, “We are seeing risks that AI could be used to turbocharge fraud and scams.” 

The FTC chairman has been targeting trillion-dollar corporations such as Amazon, Microsoft, and Meta, arguing that their dominance in the market can stifle competition and harm smaller AI businesses. 

“We’re also looking to be vigilant to ensure that we don’t see anti-competitive practices or unfair methods of competition where some of the larger firms have an advantage in this market are not using that power to squash competition,” said Khan.

The main debate centers around whether to regulate tech companies before they become too dominant. Tech giants argue that they are open to competition due to ongoing technological changes.

Overalls Khan’s mission at the FTC is to safeguard open markets, protect consumers from unlawful practices, and ensure fair competition for the benefit of both businesses and the American public.