If regulators are unable to get this balance right, they could stifle the economic growth promised by AI.
This is according to Hardin Ratshisusu, deputy commissioner of the Competition Commission , who was speaking at the Brics International Competition Conference in Cape Town last week. The conference was led by competition authorities from Brazil, Russia, India, China and South Africa under the theme of "competition law in uncertain times".
"AI is no longer a niche input it is becoming the indispensable infrastructure for the functioning of markets. In fact, markets as we know them today are transforming at a rapid pace. Some markets will disappear, others will expand, and new ones will emerge," said Ratshisusu.