Speaking at the 10th National Conference on the Economics of Competition Law, Ravneet Kaur, Chairperson of Competition Commission of India (CCI) highlighted that artificial intelligence (AI) is a compelling force in modern markets.
She further stated that if this technology is not used properly, it also has the risk of enabling collusion, including algorithmic discrimination disguised as dynamic pricing. Recently, several netizens had claimed that certain cab aggregator apps are showing surge prices through the use of AI, in the name of “dynamic pricing” concept.
At the conference, Kaur also emphasized the need for adopting new ways to build trust-based regulations for the technology. She stated, “AI shapes pricing strategies, decision-making, and operational efficiencies across industries, but it also presents risks.”
She explained that AI can facilitate new forms of collusion, such as “cartels without human communication, price coordination without explicit agreements, and algorithmic discrimination under the guise of dynamic pricing.”
As per the reports, at the same event, Minister of State for Corporate Affairs, Harsh Malhotra, indicated that the Indian government is not rushing to introduce the Digital Competition Bill. He also stressed the importance of following the proper process. Prior to its introduction, he also talked more about the proposed legislation.
Malhotra further said that, “There is a need for a proper study of practices in digital competition laws in other jurisdictions, such as the European Union, Japan, and Australia, to assess their relevance to the Indian market.”
During the conference, he made a statement about the Digital Competition Bill, saying, “We are not moving forward hastily. After due process, the government aims to bring this bill forward. Global players should not dominate Indian players in the digital market, nor should they overshadow smaller players. Discussions on this issue are ongoing.”
However, the Minister of State ended up saying that while strong interventions are necessary to uphold the laws, individual self-regulation should also be promoted.
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