A professor of law and political science at Pennsylvania recently released an op-ed piece to urge antitrust regulators to embrace AI and machine learning for enhanced oversight.
In an op-ed piece published on ProMarket, Cary Coglianese, a regulatory policy expert, emphasized the potential benefits and considerations of utilizing machine learning and artificial intelligence (AI) algorithms for antitrust regulators. Coglianese highlights the dynamic nature of markets and the disruptive impact of advanced language models like ChatGPT and Bard across various sectors.
"Like other regulators, antitrust regulators will need to audit and validate the AI tools they develop and deploy. The goal with these tools should be to improve on the status quo," Coglianese, professor of law and political science, said in the op-ed piece.
Coglianese notes machine learning algorithms offer the possibility of better identifying and addressing anticompetitive behavior, which can ultimately foster a more competitive marketplace and benefit consumers, according to the op-ed piece. However, he cautions antitrust regulators must implement robust internal self-auditing and AI risk management practices to ensure these tools' responsible and effective use.
Coglianese emphasized the importance of monitoring and testing AI tools used by regulators to prevent potential biases, the op-ed noted. He cautioned regulators to be mindful of biases algorithmic tools may capture or reinforce.
"Fortunately, with the data needed to use AI tools, regulators can monitor and test their tools to ensure positive impact and avoid undue harm," Coglianese said in the op-ed. "Antitrust authorities must be prepared to identify and mitigate any biases propagated by machine-learning algorithms."
In a joint publication by Coglianese and Alicia Lai titled "Antitrust by Algorithm" from 2022, the authors discussed the potential shift in the use of technology by antitrust regulators. They suggested that in the future, antitrust regulators will increasingly rely on what they termed "antitrust by algorithm."
