The dynamics of time never remain static and especially in the arena of technological development it has always been boosted with new developments leading to rise of digital economy in global scenario. It has created a new virtual gold in form of ‘Data’ where entire trade warfare depends upon access and utilization of such data. While the world stood in admiration and awe at the arrival of Artificial intelligence, as an “invisible hand of help”, it created a flutter of sorts and raised many an eyebrows amongst the academicians and practitioners of law. What worries the academicians and practitioners alike is the uncertain and infinite dimensions of its relationship with Competition law. Unaware of the risks and uncertainties it may lead to, the regulatory bodies often resort to the “precautionary principle” and decide not to interfere at such nascent stages as it may lead to disturbing the market dynamics and thereby stunting growth. A digital economy, though very clear in its principles, poses certain challenges when put into practice. It threatens to upset the spirit of competition, as the reliance on digital economy continues to grow. Moreover, witnessing the exponential growth of AI as a mute spectator can be equally catastrophic as the possibility of its abuse by the players would also increase due to the non-interventionist approach by the regulators. Not only is the growth of Artificial intelligence certain, that too by leaps and bounds due to its efficiency increasing attributes, but also the fact that it has changed, forever, the way things were done. This, therefore, must lead to another important change: The approach and tools of Competition regulators in dealing with this new enigma!
In the course of this paper, the author attempts to highlight what big data is and how big data can be manipulated. The author intends to focus on why cartels can pose a serious threat in a digital economy and why a stringent competition policy and strong competition laws are important to help such an economy. The paper further aims to analyze the position of big data scrutiny from antitrust dimension in major Asian jurisdictions and EU.
