A top Google executive has dismissed European concerns that US companies will dominate AI, arguing fierce competition between Big Tech and fast-growing start-ups is driving down prices and creating opportunities for regional businesses.
"Look at the space right now, it's remarkable ... You couldn't imagine a more competitive environment," said Kent Walker, Alphabet's president of global affairs and chief legal officer, in an interview with the Financial Times.
Walker pointed to Big Tech groups such as Nvidia, Meta and Space X, along with US AI labs Open AI and Anthropic, France's Mistral, and "another half dozen or a dozen Chinese companies." He added that prices and capabilities are both increasing at an astonishing rate.
European competition commissioner Teresa Ribera is stepping up scrutiny of the rapidly developing AI industry, with Brussels officials worried that established US tech companies could gain an unfair advantage in a market predicted to underpin the bloc's economy. Despite losing recent US antitrust lawsuits, Alphabet was not forced to sell parts of its empire but must share more data with rivals.
Last month, Google's Deep Mind unveiled an upgraded Gemini model that has caught up with market leaders. Plans to integrate AI into Gmail, Maps, Android and YouTube have reignited concerns about Big Tech leveraging its scale to squeeze out emerging AI rivals.
Source: Financial Times Companies · Summarized by HeadlinesBriefing