Competition Bureau publishes report on Canada’s Competition Summit 2024

From: Competition Bureau Canada

News release

November 13, 2024 – GATINEAU (Québec), Competition Bureau

Today, the Competition Bureau published a report highlighting the key takeaways from “Canada's Competition Summit 2024: Market Dynamics in the AI Era,” which took place in Ottawa and virtually on September 16, 2024.

The event featured experts from domestic and international competition authorities, regulatory bodies, businesses and non-governmental organizations, as well as the legal and academic communities. The discussions focused on:

  • the current AI landscape;
  • the impacts of AI on competition across markets; and,
  • international and domestic regulatory approaches to AI.

The report published today summarizes 5 key takeaways from these discussions:

  • AI is having an impact on competition across sectors of the economy, presenting both opportunities and risks.
  • Regulatory frameworks need to adapt to address the unique challenges posed by AI.
  • International cooperation is crucial for effective regulation and enforcement in AI-driven markets.
  • There is a need for transparency in AI systems to ensure accountability and consumer trust.
  • The role of big tech in AI development is contentious.

The Bureau thanks all attendees, panelists and speakers, who helped advance the conversation on these emerging issues related to AI. We look forward to continuing to discuss competition policy issues and opportunities at Competition Summits in the years to come.

Quotes

“As Canada’s competition watchdog, the Competition Bureau needs to be at the forefront of AI and understand its impact on the competitive landscape. I am thankful for the important contributions from our panelists and speakers at this year’s Summit, as they will help us continue to build our understanding of AI’s impacts on competition.”

Matthew Boswell,
Commissioner of Competition 

Quick facts

  • This year’s event was the fifth annual edition of Canada’s Competition Summit. Previous Summits covered digital enforcement (2020), competition and growth (2021), green growth (2022), and whole-of-government approaches to policy (2024).

  • Over 500 participants from Canada and abroad attended the 2024 Summit.

  • This year’s Summit is part of our ongoing work to better understand AI, how it might affect competition, and how we can address potential anticompetitive harm from AI and promote competition in AI markets. This work also includes cross-governmental collaboration through the Canadian Digital Regulators Forum and a consultation on the Discussion Paper on Artificial intelligence and competition earlier in 2024.

  • In keeping with the theme of this year’s Summit, this report was drafted using a combination of human effort and AI technology. This is a first for the Bureau. We used an artificial intelligence program to summarize the discussions held at Canada’s Competition Summit 2024 and to develop the first draft of these key takeaways. The final content was fact-checked and quality-controlled by Bureau personnel.  

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

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