On 23 July 2024, competition authorities from the UK, US, and EU published a joint statement on generative AI foundation models and AI products. This follows an FTC investigation into Generative AI investments as well as International Joint Guidance on Deploying AI Systems Securely published in April 2024 and International Cybersecurity Guidelines on Secure AI published in November 2023, signalling a shift towards greater international cooperation in AI Governance. The most recent statement on generative AI, published by the Competition Commissioner of the European Commission, UK Competition and Markets Authority, US Department of Justice, and US Federal Trade Commission, outlines a commitment to ensuring that generative AI does not jeopardize fair competition.

Risks of generative AI to competition