LI Network
Published on: December 09, 2023 at 11:53 IST
The Competition Commission of India (CCI), the country’s fair trade watchdog, is currently undertaking a comprehensive market study to assess the influence of artificial intelligence on the competition landscape, as revealed by the regulator’s chief, Ravneet Kaur.
In recent times, there has been a notable surge in the deployment of artificial intelligence (AI) applications across various sectors.
Speaking at an event organized by the industry chamber FICCI, Kaur outlined the objectives of the ongoing market study, stating, “We are conducting a market study on artificial intelligence… In that study, we will try to understand the dynamics better. We aim to differentiate between the types of AI that merit support and those that may stifle competition.”
This initiative is expected to yield valuable insights into the competitive landscape, aiding the CCI in making informed decisions regarding the regulation of AI in various sectors. The CCI, with its mandate to curb unfair business practices and promote fair competition across diverse sectors, plays a pivotal role in ensuring a level playing field.
Kaur further highlighted the CCI’s significant role in regulating the market, stating that since its inception, the commission has successfully cleared 1,000 cases related to combinations, mergers, and acquisitions.
As the reliance on AI continues to grow, the CCI’s proactive approach in conducting this market study reflects its commitment to adapting regulatory frameworks to evolving technological landscapes.