"We have found that Google maintains a strategic position in the search and search advertising sector with more than 90% of searches in the UK taking place on its platform,"
"Having taken into account the feedback received following our proposed decision, we have today designated Google's search services with strategic market status."
"Many of the ideas for interventions that have been raised in this process would inhibit UK innovation and growth, potentially slowing product launches at a time of profound AI-based innovation,"
"outcomes that reflect such ambitions in the crucial months ahead."
Britain's Competition and Markets Authority activated new powers to regulate Google's search activities by designating Google's general search and search advertising services with strategic market status. The CMA found Google holds more than 90% of searches in the UK. The designation excludes Google's Gemini AI assistant but includes other AI-based search features. The designation enables the CMA to pursue further regulatory action. Google stated its search product contributes billions of pounds to the UK economy and warned that many proposed interventions could inhibit UK innovation and growth, potentially slowing AI product launches. Google hopes to see outcomes that reflect its ambitions amid ongoing legal and regulatory challenges, including a £5 billion lawsuit.
Read at www.cnbc.com
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