I recently represented the Competition Commission during a panel discussion on AI governance and economic inclusion at a pre-Brics summit in Rio de Janeiro, Brazil, where I explained how competition policy can be an important tool that when effectively applied can regulate adverse effects from the operation of AI and Big Tech within our respective countries.
My presentation to the panel highlighted three major points central to effective regulation and opportunity creation within the evolving landscape of AI. First, market inquiries are a regulatory or competition policy tool that can address AI's impact on markets and consumers. With AI and AI-embedded digital platforms in constant evolution, market inquiries provide a flexible, evidence-led mechanism that involves stakeholders in seeking practical solutions. This approach supports the design of remedies that mitigate the adverse effects AI might introduce, without constraining the innovation and benefits that AI products and services may offer.