What is AI? 10. What is Artificial intelligence? 10. Generative AI 12. Potential economic impact of generative AI 14. Generative AI lifecycle and value chain 16. Generative AI lifecycle and different levels of the value chain 16. Foundation Models 18. Data requirements 18. Computing power 20. Other factors required to develop foundation models 21. Fine-tuning / refining 22. Deployment of generative AI 23. Overview 24. 3 Competition in the supply of AI 26. Why care about competition in the supply of AI? 26. What types of competition issues could emerge in the supply of generative AI? 27. Structural factors 28. Economies of scale and first-mover advantages 28. Acquisitions and partnerships 29. Availability of data 30. Access to data at the foundation level 30. Access to data for fine-tuning and deployment 30. Access to compute 31. Bundles, switching costs and ecosystems in the deployment of generative AI 32. Access to individual consumers 33. Access to organisation customers 33. Access to other key factors 34. Access to foundation models 34. Labour markets and entrepreneur entry 34. Access to other key factors 35. Access to foundation models 35. Labour markets and entrepreneur entry 35. Summary and interrelation of factors 36. 4 Tools available to competition authorities 37. Monitoring, advocacy and information gathering 38. Market studies, Market Investigations or sectoral studies 40. Merger control 42. Enforcement 44. Remedial action 45. Regulation 46. Co-operation 47. 5 Future areas of interest for competition policy and AI 49. Effects of AI on competition in other markets 49. Potential risks to competition across markets 49. Potential benefits for competition across markets 50. Use of AI for competition authorities 51. Managing information and assessment 51. Improving intelligence and case selection.