The Director of the HSE-Skolkovo Institute for Law and Development made this statement at the session “Digital Economy — New Challenges, New Solutions” of the 9th St. Petersburg International Legal Forum.
The session “Digital economy — new challenges, new solutions” was held on 16 May 2019. During the event, deputy head of the Russian antimonopoly authority Andrei Tsarikovsky, president of the Administrative Council for Economic Defence of Brazil, Alexandre Barreto de Souza, representatives of the antimonopoly authorities of various countries and experts discussed potential solutions to the challenges posed by today’s economy and whether competition law can be one of them. One of the key topics for discussion was the transformation of antimonopoly regulation and the adaptation of its approaches to the new realities.
“In order to regulate the digital economy more effectively, the antimonopoly authority must itself undergo a digital transformation,” says Alexey Ivanov. “That is, agencies should incorporate big data analysis, predictive analytics and other state-of-the-art management tools in their everyday activities. Digital platforms and digital ecosystems that define the image of today’s economy extensively use these methods in their business. In order to effectively regulate them, regulators, too, should apply the most advanced analysis techniques. We see that markets are increasingly managed by digital platforms, which means that antitrust regulation, if we want to preserve it in the new conditions, should resemble State Planning 2.0 rather than a control and oversight authority that we are used to. Stabilization of market distortions in the digital economy is a major analytical and regulatory challenge, which is difficult to respond to using the standard control and oversight methods.”
According to Ivanov, internal digital transformation is the next challenge that the regulator will face after the adoption of the fifth antimonopoly package. “This could be the basis for the 6th antimonopoly package,” the expert noted.