Seoul, May 27 (IANS): South Korea's antitrust regulator said on Monday it hosted a conference on artificial intelligence (AI) and competition policy with the Organization for Economic Cooperation and Development (OECD).

The conference, held in Seoul, invited experts to discuss the role of competition in the supply chain of generative AI platforms, according to the Fair Trade Commission (FTC).

Generative AI refers to technologies that create various types of content, including text, images and videos, by learning and analyzing data, reports Yonhap news agency.

"We need to build grounds for fair competition in AI-related industries, so that they maintain innovative growth while preventing unfair practices," Han Ki-jeong, the chairperson of the FTC, said.

Frederic Jenny, chairman of the OECD's competition committee, also noted that there needs to be balanced regulation to ensure fair competition in the market while promoting innovation.

The regulator noted the government will aim to roll out antitrust policies to address the rapidly changing trends in the generative AI sector.