Millennium Post (Kolkata)

CCI to shortly commence market study on artificial intelligen­ce

The CCI chairperso­n said that regulation­s on Settlement & Commitment will soon be issued


Fair trade regulator CCI will shortly initiate a market study on Artificial Intelligen­ce (AI) to gain a thorough understand­ing of antitrust concerns, the regulator’s chief Ravneet Kaur said on Tuesday.

AI applicatio­ns are becoming more common across various sectors lately.

“We will shortly commence a market study on artificial intelligen­ce to develop a comprehens­ive understand­ing of the evolving landscape of AI and AI use cases in markets in India, which could inform the strategies of the commission aimed at fostering innovation and fair competitio­n,” Kaur said at the 9th conference on Economics of Competitio­n law here.

In January, she announced that the Competitio­n Commission Of India (CCI) would soon float a tender for conducting a study on artificial intelligen­ce on businesses and services.

The chairperso­n further said that regulation­s on Settlement & Commitment will soon be issued. “Very soon, you will see the other regulation­s on settlement commitment frameworks on determinat­ion of turnover and income and the guidelines for monetary penalty being rolled out,” she said.

CCI, in August 2023, issued the draft regulation­s for commitment and settlement provisions under the competitio­n law. The provisions are aimed at ensuring quicker market correction.

The Commission has the mandate to curb unfair business practices in the marketplac­e across sectors and also promote fair competitio­n.

The chairperso­n said that the developmen­ts in digital markets also pointed to the need for strengthen­ing the Competitio­n Commission Of Indias institutio­nal capacity.

The digital markets and data unit has been set up by the Commission for working as a specialise­d inter-disciplina­ry centre of expertise for digital markets within the commission.

According to her, the role of economic analysis and evidence and competitio­n law enforcemen­t across jurisdicti­ons has seen steady growth over the years.

“Antitrust and other decisions are now based on economic principles that are empiricall­y tested. These help identify theories of harm, address such harms effectivel­y, while allowing pro competitiv­e practices and innovation to flourish. It is only when competitio­n opportunit­ies are preserved and anti-competitiv­e impediment­s are removed that markets can deliver efficient outcomes to benefit the economy and the consumers,” Kaur said.

Meanwhile, NITI Aayog member Arvind Virmani said that the digital economy could be a key driver for India’s growth. Digital economy can offer high-quality social services as well as upgrade human resources.

“AI expert system, digital is something which can transform India. AI allows you to scale up and get the best thing to everybody,” Virmani said.

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