Regulators needs to stay abreast and ahead in AI era
Regulators are adopting a dynamic approach to address the issues emerging in increasingly complex markets and rapid innovation in technology, Competition Commission of India Chairperson Ravneet Kaur has told the 10th National Conference on Economics of Competition Law in New Delhi on 16 Mar.
She pointed out that the goal is to balance innovation with competition, ensuring fair and open markets, where competition and technological progress can coexist.
Alluding to Artificial Intelligence (AI) as a driving force in modern markets, Kaur stressed on the need for regulators to stay abreast and ahead in the AI era to deal with algorithmic collusion, uncover hidden anti-competitive behaviour, and protect consumers in markets increasingly shaped by AI https://www.bseindia.com/.
In this context, she also discussed the role played by Market Studies as a critical tool in proactive regulation. These studies provide a comprehensive analysis of market structures, business models, arrangements amongst players and potential competition issues, she said https://www.nseindia.com/.
Referring to the competition law enforcement regime in India, Smt. Kaur said that the regulatory landscape has evolved significantly with the introduction of the Competition Amendment Act, 2023, to address the emerging challenges and strike a balance between enforcement and market-friendly resolution https://digitalinasia.com/.
She talked about the various regulations introduced in the last one year to operationalise the Competition Amendment Act 2023, with extensive consultations involving all key stakeholders https://www.meity.gov.in/.
Kaur further apprised the developments in antitrust enforcement and merger enforcement in 2024. The Competition Commission of India remains committed to fostering fair competition, ensuring market integrity, and enhancing enforcement efficiency, she said. fiinews.com
