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Defining Competition and AI Developments

In: Artificial Intelligence and Competition

Author

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  • Georgios I. Zekos

    (International Hellenic University)

Abstract

AI is an intangible capital asset that corporations may invest into and use to make output through a production function. Present AI systems are software programs interacting with physical or digital environments. Corporations have gradually embraced automated systems to set prices and track business transactions. Effective competition is a vital driver of the growth. AI shifts the sources of competitive advantage and generates new persistent sources of competitive advantage. Antitrust laws stimulate fair competition. Indeed, competition laws make certain that fair competition occurs in an open-market economy. It is supposed that antitrust law guarantees substantively unrestricted economic outcomes, eliminating the immense influence of the economically powerful.

Suggested Citation

  • Georgios I. Zekos, 2023. "Defining Competition and AI Developments," Contributions to Economics, in: Artificial Intelligence and Competition, chapter 0, pages 9-65, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-48083-6_2
    DOI: 10.1007/978-3-031-48083-6_2
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