What's in store for 2024

Crucial elections around the globe, culminating in the US presidential vote in November, top the political agenda. But in the economic and regulatory fields that are our focus, it’s artificial intelligence that looks set to take top billing.

AI burst into the headlines in 2023 as the astonishing feats of generative AI systems such as ChatGPT raised hopes and fears in equal, hyperbolic measure. This year will see policymakers developing common standards and legislative frameworks designed to allay safety concerns about AI. As they do so, we advocate a clear-eyed view of the trade-offs needed to maximise the benefits of AI and reduce its risks. To that end, our data science team urges businesses to gain a nuanced understanding of the transformative technology.

A companion piece explains why AI will also preoccupy competition authorities in 2024; they need to address the pressing question whether partnership agreements between big tech firms and AI developers, such as the tie-up between Microsoft and ChatGPT owner OpenAI, contravenes merger laws. The Microsoft/OpenAI partnership is also on the docket of the CMA, which is enjoying new-found power over global mergers since Brexit. We preview what is shaping up as a quieter year for the UK watchdog and ask whether its eventual clearance last year of Microsoft’s bid for games giant Activision was a one-off or marked a big policy shift.

Away from AI, we explore important developments that we think are likely in three aspects of competition litigation – on class actions, claims related to digital competition rules and the role of expert evidence in tribunal hearings. Our strategy practice also picks a trio of subjects that will demand attention in 2024: advertising on streaming services, further efforts to reduce problem gambling, and innovation in payment methods. Finally, we take a look at the likely energy and climate policy priorities of the new European Commission that will start a five-year term later this year.