New Delhi: Artificial Intelligence (AI) is becoming an important tool in business, but it could also help companies cheat by working together secretly, said Ravneet Kaur, the head of the Competition Commission of India (CCI). The CCI is a government body that makes sure companies play fair.
Kaur explained that while using algorithms (smart computer programs) isn’t wrong on its own, if people change how those algorithms work to cheat, then it’s a problem. The CCI is studying AI and how it affects competition, with results expected by mid-2025. This study will look at things like AI in transportation and how algorithms behave.
Kaur mentioned that the CCI is working on ways to make sure algorithms are fair and clear while still allowing for new ideas and businesses to grow. The CCI has made efforts to figure out the risks that come with AI and wants to help people understand these issues better. They will also enforce rules to prevent cheating.
Recently, the CCI created a new part of their team focused on digital markets, headed by an expert. They are also looking to hire more specialists to keep up with the fast-changing tech world. This includes jobs focused on AI, data analysis, and digital marketplaces.
Big tech companies and online shopping platforms create special challenges because of their size and speed. However, the CCI aims to create strong rules to manage these challenges better, using successful ideas from around the world.
In their latest report, the CCI said they received 50 reports of unfair business practices in 2023-24, took action on 33 cases, and reviewed 101 business combinations.
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