As part of Penn Law Antitrust Association’s Annual Seminar, “Competition Around the Globe and Beyond,” Christopher Yoo, John H. Chestnut Professor of Law, Communication, and Computer & Information Science and Founding Director of the Center for Technology Innovation and Competition (CTIC), and Giovanna Massarotto, CTIC Academic Fellow, will participate in a panel discussion, “Algorithms, artificial intelligence, and antitrust” this afternoon.
The panel will cover competition issues associated with the use of algorithms, artificial intelligence (AI), and predictive analytics in business decisions. Yoo and Massarotto will lead the discussion through cutting edge studies that have the potential to contribute enormously to the innovation process.
“These technologies are explored not only from an anticompetitive perspective (e.g. algorithmic collusion and markets concentration), but also as an opportunity for antitrust agencies to be more effective in their enforcement action,” said Massarotto.
Thibault Schrepel, Associate Professor, VU Amsterdam University and Faculty Affiliate, Stanford University CodeX Center, will discuss the role of regulation, consumer protection and antitrust in this context; Ana Carolina Ramirez will moderate.
Here, Massarotto addresses one of the most pressing issues surrounding this topic: “Are technologies ruling markets?”
“The likely answer is ‘Yes.’”
“We are living in a fast moving technological environment. Most businesses rely on increasingly sophisticated algorithms, the result of which can be unpredictable. AI applications are everywhere, from Siri speech recognition to Netflix suggesting movies specifically tailored to our viewing history.
As any tool, if misused these compelling technologies can damage instead of benefit markets and consumers. Antitrust has a huge role and great responsibility in being the first arm of government regulation that can reach any market before Congress has time to pass a new law or establish a new regulatory agency. A robust and interdisciplinary corpus of research is necessary to inform this critical debate between scholars and antitrust enforcers, and enable antitrust to succeed in increasing consumer welfare.”