As Indian companies and the state push for a full-fledged approach
towards the adoption of AI in different industries, Competition Commission of
India (CCI) Chairperson Ravneet Kaur highlighted the pros and cons of
adopting the new technology and staying ahead of the times.
Speaking at the IndiaAI summit held in New Delhi from 16th to 20th
February, she stressed upon "transparency, accountability and
competition safeguards to prevent unfair conduct in digital markets". She
harped on the fact that "access to data, skill sets and infrastructure is
a crucial factor for the future".
She mentions that AI definitely makes things faster and easier and can
revolutionize healthcare, logistics, and farming, but it can also create an
environment for dominance by the big players. They could use unfair pricing or
exclusive deals to discriminate against people based on their location or
income.
She mentioned that she wants innovation, but that should act as a shield
and not weapon to block competitors or force unfair deals on
people. Innovation is needed to bring in new players, newer
technologies and impart better value for customer. Things should progress in a
way that there are no entry barriers and competition is not squeezed out.
Our view:
The recent AI summit hosted in India makes a massive statement to the
global world by India that it is looking at the future and is fully prepared to
take on and adapt to the innovation, for a better Economic growth. However,
along with the positives that come with adopting this technology, there are
certain critical issues too, that India needs to look at.
As mentioned in the article, there will always be some Companies which
will be far ahead than the others in the field of using AI technology. That
will be a critical entry barrier for the new players as the big ones will tend
to stifle competition through their better knowledge. As a result of which, it
will just not be the smaller players and the new entrants who will suffer, the
ultimate consumers too will be at the receiving end.
For India, from Regulators point of view, it
is indeed encouraging to know Regulators like NFRA (as covered in detail in previous News
Summary) and now CCI are showing encouraging signals for implementing AI with
safeguards.
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Link - https://www.business-standard.com/industry/news/need-transparent-accountable-ai-systems-says-cci-chief-ravneet-kaur-126022001245_1.html
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