Business
THE Federal Competition and Consumer Protection Commission (FCCPC) on Friday raised concerns over the unintended consequences of Artificial Intelligence (AI) integration on consumer protection if not regulated.
Speaking with newsmen in Abuja, Dr Adamu Abdullahi, the acting Executive Vice Chairman of FCCPC, said AI if not properly regulated would heighten privacy concerns, exploitative practices, limited access and cybersecurity risks.
Abdullahi said this in an event in commemoration of the World Consumer Rights Day celebrated on March 15 annually.
He said the proliferation of AI presented both opportunities and challenges for consumer protection.
“Recognising the consumer landscape and its inherent challenges, we acknowledge the pivotal role of Al in shaping proactive strategies to safeguard consumer rights and interests,” he said.
He said the roles include predictive analytics, personalised recommendations, fraud detection, automated customer support, privacy protection, fair pricing, transparency and product quality assurance.
“Addressing these concerns and potential devastating effects of Al requires proactive regulatory measures, ethical guidelines, and stakeholders’ collaboration.
“This is to ensure that Al technologies are developed and deployed responsibly, transparently, and in the best interest of consumers.
“’Regulatory interventions in this realm will ensure that Al technologies serve as tools for empowerment rather than sources of exploitation,” he said.
Abdullahi said the commission remained resolute in its determination to protect consumers and create the enabling environment for businesses to compete.
The News Agency of Nigeria ((NAN) reports that the theme for the day is: ‘Fair and Responsible Al for Consumers.’ (NAN)
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-March 15, 2024 @ 14:45 GMT|
Tags: Dr Adamu Abdullahi Federal Competition and Consumer Protection Commission World Consumer Rights Day
