ALGORITHM-FUELLED CONSCIOUS PARALLELISM: POSING MULTIFACETED CHALLENGES TO THE COMPETITION REGIME
In recent times the algorithm has emerged as a new emerging technology that enable computer to take over the task, which were earlier reserved for human beings. Algorithm particularly pricing algorithm have potential to enhance competition landscape in a given market. But, nonetheless algorithm-fuelled conscious parallelism poses multidimensional challenges to the competition regime in form of difficulty in proving plus factors, attributing liability for act of conscious parallelism, distinguishing algorithm fuelled conscious parallelism from oligopolistic interdependence, increased market transparency, over enforcement problems, replacement of explicit collusion with conscious parallelism, etc. To tackle such challenges there is a need for proper market study, changes in competition regime, reviewing ex-ante merger control regulations, ensuring competition compliance by design, auditing pricing algorithm etc. But at the same time it must also be kept in mind that pricing algorithm is still an area of high complexity and uncertainty, so any intervention should be subject to deep assessment and maintain a fine balance between consumer protection, promotion of competition and innovation.