A PYMNTS Company

Competition Law Consequences of Artificial Intelligence

By  |  May 28, 2018

Competition Law Consequences of Artificial Intelligence

By Gönenç Gürkaynak, Iskin Naz Altinsoy & Umay Rona (ELIG Gürkaynak Attorneys-At-Law)

Technology, whose etymology derives from Aristotle’s “techne,” (which means “craftsmanship” or “art”) represents one of the most primal instincts and distinctive features of human beings, which is the ability to use tools to increase one’s quality of life. In fact, today we can observe the astonishing growth of the digitalized economy, and the emergence (and rapid adoption) of various novel commercial activities that are enabled by new technologies, such as data collection or multi-sided markets, which have resulted in significant enhancements in total welfare. Following the emergence and rapid development of computer sciences, artificial intelligence has become an increasingly important part of our daily lives. Algorithms will change the competition landscape as we know it by enabling undertakings to improve their pricing models, by helping suppliers to provide better products and services to their consumers, and by predicting market trends to encourage and spur innovation.

Continue reading…