Algorithms and Artificial Intelligence : An Optimist Approach to Efficiencies

Artificial intelligence (“Al") is a comprehensive field of computer science that enables machines to learn from experience and ultimately take difficult actions without human intervention. Al has been one of the highly populartopics overthe last decade, as it has become a more effective tool after the development of algorithms (i.e.the bricks of an Al system) that teach machines to learn. That, in turn, has led a subfield of AI “machine- learning” and even “deep learning” (a subfield of machine learning) to arise, enabling machines to envisage human preferences and accordingly make decisions often more rapidly and efficiently than humans. Algorithms have been designed to carry out complex tasks and process data that can eventually reduce costs and bring certain advantages for both businesses and consumers. Therefore, Al and intelligent algorithms have been evaluated by many to have a significant power to realize policy goals of a society.Although many regulators and scholars approach the rapid development of algorithms and particularly Al with a bit of skepticism, focusing on their potential collusive effect in particular, this article aims to explore the pro-competitive impact of algorithms and Al and the efficiencies to be gained through the use of these technologies