Competition watchdogs should investigate US tech giants “vexing” data monopolies, a House of Lords inquiry has said.

The Lords Artificial Intelligence committee called on the Competition and Markets Authority to launch a study of the sector after receiving complaints that the likes of Google and Facebook had too much control over global, digital data which is critical for academics and scientists developing artificial intelligence.

The government has estimated that AI could add an additional £630bn to the UK economy by 2035 and presents an opportunity to improve productivity and improve quality of life, particularly for its potential in aiding healthcare.

But the industry may struggle to take…

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