Competition authorities might need to accept that today’s large technology firms will play a key role in artificial intelligence. They need to focus on ensuring they compete fiercely – rather than peacefully co-exist. While policy-makers fret about its risks, competition authorities ought to be excited about artificial intelligence (AI). AI has the potential to boost competition by helping firms in many sectors create new content, innovate, research, advertise and optimise their operations. AI could therefore enable many new entrepreneurs to launch businesses, help existing firms expand into new areas, and shift labour and capital away from incumbents and towards more innovative firms. This could finally help address one of the key reasons for slow economic growth in developed countries: the struggle to raise productivity.
Author: Zach Meyers, Assistant Director, Centre for European Reform.
This article is available on the Centre for European Reform website.
