The Competition Commission of India (CCI), responsible for ensuring fair trade practices in the country, has announced plans to commission a study on the evolving landscape of artificial intelligence (AI).
In a press release, the Commission disclosed that it is seeking proposals from agencies or institutions interested in conducting a comprehensive market analysis of AI and its associated ecosystems. The deadline for proposal submissions is June 3.
The objective of the market study is to gain insights into critical AI systems, market structures, stakeholders, value chains, and parameters of competition. Additionally, it aims to identify potential competition issues within these ecosystems and evaluate the scope and nature of AI applications and use cases, along with associated opportunities, risks, and competitive implications.
Furthermore, the study intends to examine the current regulatory frameworks governing AI systems and applications in India and other major jurisdictions, as well as their evolution over time.
According to the Commission, while AI holds significant potential for promoting competition, there may also be concerns regarding its impact on competition dynamics.
“The proposed study aims to enhance our understanding of the emerging competition dynamics within AI development ecosystems and the implications of AI applications for competition, efficiency, and innovation across various industries,” the Commission stated.
India has identified artificial intelligence as a strategic driver of economic growth and innovation. Recently, the government approved significant funding of over Rs 10,300 crore ($1.24 billion) for the IndiaAI Mission, aimed at bolstering the country’s AI ecosystem over the next five years.
Under the leadership of Prime Minister Narendra Modi and his vision of a developed India (Viksit Bharat), AI is expected to play a crucial role in achieving the goal of a $5 trillion economy by 2027-2028. India is also anticipated to introduce a draft regulatory framework for AI by July to facilitate its responsible adoption and mitigate potential misuse.
According to a report by Ernst & Young, generative AI (Gen AI) could contribute between $1.2 trillion to $1.5 trillion to India’s GDP by the financial year 2029-2030. This impact is projected to result from enhancements in productivity, operational efficiency, and personalized customer engagement.
As AI continues to evolve and face new challenges, ensuring compliance with existing laws and safeguarding data integrity are paramount. Some experts suggest integrating enterprise blockchain systems to maintain data quality and ownership, thereby enhancing data security and immutability.
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