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French Finance Minister Says Nvidia’s AI Dominance Stifles Competition

French Finance Minister Bruno Le Maire said that the dominance of the American company Nvidia in the sphere of artificial intelligence, which shows a trend of steady growth, negatively affects the situation in the industry from the point of view of competition.

French Finance Minister Says Nvidia’s AI Dominance Stifles Competition

According to the French minister, the current market position of the mentioned company provokes inequality between countries. He also noted that this situation is getting worse. In the context of discussions about the impact of Nvidia’s industry dominance on fair competition, Bruno Le Maire said that the brand’s position suppresses the corresponding process.

During a conversation with journalists at the artificial intelligence security summit, which was organized in the UK, the French Finance Minister said that having only one country with all the technologies, all the private companies, all the devices, and all the skills should be a failure for all. There is reason to believe that these words of Bruno Le Maire should be interpreted as an assessment of American technological dominance in terms of its influence on world processes and the capabilities of other states. It can be assumed that the minister mentioned Nvidia as a kind of generalized symbol of the power of the United States in advanced developments. At the same time, these are just guesses and should not be interpreted as absolute truth.

Bruno Le Maire, during a conversation with journalists during the summit in the United Kingdom, also noted that at the moment 92% of all graphics processor units used as artificial intelligence accelerators belong to Nvidia.

At the same time, the European Union is currently investigating anti-competitive abuses in artificial intelligence chips in a market dominated by the mentioned company. Local regulators have paid close attention to the position of the American brand in the supply chain of microcircuits for artificial intelligence tasks. Nvidia GPUs are becoming increasingly important for systems used to train large language models and other types of AI software.

Bruno Le Maire said that a situation of fair competition is possible if the space of activity is equally accessible to many private companies. The Minister also noted that achieving the corresponding goal will be possible provided that none of the market players will have the privilege to sell all available devices alone.

Currently, work is being completed in the EU on the adoption of a legislative framework regulating the development, development, and use of artificial intelligence technologies. Experts say that this block of countries seeks to encourage their companies to achieve the same dominance in the machine intelligence market that is currently inherent in Nvidia and OpenAI.

Bruno Le Maire also said that Europe should first introduce technological innovations and then decide on their regulation. The minister separately noted that this is his message to London. Currently, the UK claims to be a kind of global regulator of artificial intelligence.

According to the French Finance Minister, the desire to control technologies is illusory for those who do not participate in the process of creating relevant developments. At the same time, he noted that regulation is necessary, but clarified that the effectiveness of the relevant activities will be significantly higher when European players in the artificial intelligence industry appear. In his opinion, in this case, Europe should not repeat the mistakes made during the last technological revolution of the 1990s. He noted that the result of the wrong strategy in the mentioned period was the absence of European giants of consumer Internet.

Bruno Le Maire also said that a new revolution of generative artificial intelligence is coming. According to him, in this case, Europe should step up efforts aimed at achieving progress in the AI industry. The minister claims that in the absence of proper measures in a few decades, all major players of sphere artificial intelligence will be based in other regions of the world. Bruno Le Maire says that under this scenario, Europe will lose cultural and economic capital.

The media note that the French minister’s call to action contrasts with alarmist sentiments that machine intelligence is an existential threat that can provoke the destruction of human civilization.

As we have reported earlier, UK, US, EU and China Sign Declaration of AI’s Danger.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.