New CCI Study Advocates Self-Audits in AI to Prevent Unfair Business Practices
The Competition Commission of India (CCI) has released a study urging enterprises to conduct AI system self-audits to mitigate unfair business practices. The report suggests bolstering CCI's technical capabilities and calls for setting up a think tank to enhance understanding of AI in competitive markets.
- Country:
- India
The Competition Commission of India (CCI) released a pivotal market study advocating for self-audits of AI systems by enterprises. This measure is set to counteract AI-triggered unfair business practices that may distort competition.
The report emphasizes strengthening CCI's technical infrastructure and suggests the establishment of a think tank to draw from expertise on digital markets, especially those impacted by AI. Such initiatives aim to foster inter-regulatory coordination and international collaboration.
Released at a critical juncture, the study addresses concerns of algorithmic collusion and AI-driven pricing strategies. The global AI market's projected growth underscores the necessity for regulatory frameworks to evolve, with a focus on AI governance, transparency, and accountability.
(With inputs from agencies.)
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