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The Competition and Markets Authority (CMA) is testing an AI tool aimed at preventing bid rigging among firms competing for government contracts. This initiative addresses the significant risk of collusion in a procurement market valued at approximately £300 billion annually. The CMA's head, Sarah Cardell, reported that initial trials in a government department have shown promising results.
The implementation of this AI tool is part of broader regulatory changes that may prohibit companies from bidding on government contracts if they violate competition laws. By utilizing AI to analyze data and identify potential anti-competitive behavior, the CMA aims to enhance transparency and fairness in public procurement processes. This move reflects a growing trend of leveraging technology to uphold market integrity.
• CMA trials AI tool to detect bid rigging in government contracts.
• AI analyzes data to identify anti-competitive conduct in procurement.
AI is utilized to analyze data for detecting collusion in bidding processes.
Bid rigging refers to collusion among firms to manipulate contract bidding outcomes.
Data scraping involves extracting information from various sources to identify competitive practices.
CMA is responsible for enforcing competition laws and is testing AI to enhance procurement integrity.
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