Competition Commission of India (CCI) provides further details and extends deadline for bids regarding study on AI’s influence on competition.
The Competition Commission of India (CCI) has issued clarifications and extended the deadline for submissions of bids for conducting a comprehensive study on artificial intelligence (AI) and its impact on competition. The deadline, which was initially set for June 3, has now been extended to June 18.
According to documents released by the CCI, the fair trade regulator emphasized that bids cannot be submitted through a consortium or a joint venture. Moreover, it reiterated the minimum annual turnover requirement of INR 50 Crore for bidders, along with other eligibility criteria.
The study aims to delve into various facets of AI’s role in shaping market dynamics, particularly focusing on its influence on consumer choices through personalized recommendations, services, and pricing strategies. Furthermore, it seeks to investigate the potential facilitation of anti-competitive strategies by AI and explore emerging forms of collusion driven by self-learning algorithms.
One of the key areas of scrutiny will be the examination of biases inherent in AI algorithms and their implications for competition. Additionally, the study will assess the synergies and risks associated with mergers and acquisitions (M&As) involving firms with AI capabilities, emphasizing the evaluation of competitive effects.
The deadline for the submission of bids is now June 18, with the opening of financial bids scheduled for July 11.
In April, the CCI had invited proposals to initiate a study on the impact of AI on market competition, aiming to gain insights into both its positive and negative implications. The regulator’s objective is to shape a strategy that fosters innovation and ensures fair competition in the rapidly evolving digital landscape.
In today’s era of rapid digital transformation, AI emerges as a transformative force, revolutionizing customer engagement with its human-like capabilities. With over 100 startups leading the charge in India’s GenAI landscape, the sector is witnessing substantial growth, with notable players such as SarvamAI and Krutrim focusing on developing advanced language models tailored for Indian languages.
Other significant contributors to the sector, such as ObserveAI, have garnered substantial funding, reflecting investor confidence in the potential of AI-driven solutions to reshape various industries.
The extended deadline for bids provides stakeholders with an opportunity to engage in shaping the discourse around AI’s impact on competition, ensuring a comprehensive understanding of the evolving market dynamics in the digital age.
For further details and updates on the bidding process, interested parties are encouraged to visit the official website of the Competition Commission of India (CCI).
