Live
- TTD to accept TG leaders’ letters from tomorrow
- Delimitation unites South leaders
- Bejan Daruwalla’s horoscope
- Gold rates in Delhi today stable, check the rates on 23 March, 2025
- Telangana CM Revanth Reddy pays tribute to Bhagat Singh, Sukhdev, and Rajguru on Shaheed Diwas
- Gold rates in Visakhapatnam today stable check the rates on 23 March 2025
- Gold rates in Vijayawada today stable check the rates on 23 March 2025
- AP LAWCET 2025 notification released for Admissions for Law courses
- Telangana gears up to host Miss World 2025
- Gold rates in Hyderabad today stable check the rates on 23 March 2025
AI's role in modern markets could lead to collusion, says CCI chief
New Delhi: Artificial Intelligence (AI) is transforming markets and business operations, but it also poses risks, including the potential for enabling...
New Delhi: Artificial Intelligence (AI) is transforming markets and business operations, but it also poses risks, including the potential for enabling collusion and discrimination, Ravneet Kaur, Chairperson of the Competition Commission of India (CCI), said on Sunday.
Speaking at the 10th National Conference on Economics of Competition Law in the national capital, Kaur highlighted how AI, while driving efficiency, could also be misused in ways that harm fair competition.
Kaur pointed out that AI is increasingly influencing pricing strategies, decision-making, and operational processes across various industries.
However, this technological advancement could also lead to new forms of anti-competitive behaviour, including "cartels without human communication", "price coordination without explicit agreements", and "algorithmic discrimination" under the guise of dynamic pricing.
These practices could harm consumers and disrupt fair market competition, she warned. “AI shapes pricing strategies, decision-making, and operational efficiencies across industries but also presents risks,” Kaur continued.
The CCI is already studying the impact of AI on competition as it aims to stay ahead of potential challenges in the evolving market landscape.
Kaur stressed the importance of adopting a forward-looking approach to regulating AI, one that fosters trust and ensures fairness in the market.
The CCI Chairperson also provided updates on the regulatory body's ongoing work. Since the enforcement of the Competition Act in 2002, the Commission has received more than 1,300 antitrust cases, of which 1,180 have been resolved.
Last year, the CCI received 42 new antitrust cases, finding potential violations in eight, which are now under detailed investigation.
The CCI also closed 19 cases at the prima facie stage due to no evidence of violations.
“In 2024, the Commission received 128 combination notices related to mergers and acquisitions, of which 126 cases were disposed of,” Kaur mentioned.
She further added that in two cases, the CCI granted approvals with remedies to safeguard competition.
