FCCPC Vows To Mitigate Impact Of Artificial Intelligence On Consumer Protection

The Federal Competition and Consumer Protection Commission (FCCPC) has raised concerns over the unintended consequences of artificial intelligence (AI) integration on consumer protection if not regulated.

Speaking with journalists in Abuja, the Acting Executive Vice Chairman of FCCPC, Adamu Abdullahi said AI, if not properly regulated, would heighten privacy concerns, exploitative practices, limited access and cybersecurity risks.

Abdullahi said this during an event in commemoration of the World Consumer Rights Day celebrated on March 15 annually.

The theme for the day is “Fair and Responsible Al for Consumers.”

He said the proliferation of AI presented both opportunities and challenges for consumer protection.

The FCCPC Boss said, “In a rapidly evolving digital landscape, the proliferation of artificial intelligence presents both opportunities and challenges for consumer protection. Recognising the Nigerian consumer landscape and its inherent challenges, we acknowledge the pivotal role of AI in shaping proactive strategies to safeguard consumer rights and interests.

“These include predictive analytics, personalised recommendations, fraud detection, automated customer support, privacy protection, fair pricing, transparency and product quality assurance.

“However, as a consumer protection agency, we are concerned that the integration of artificial intelligence, if not regulated, will result in unintended consequences like privacy concerns, exploitative practices, limited access and cyber-security risks.

“Addressing these concerns and potential devastating effects of AI requires proactive regulatory measures, ethical guidelines, and stakeholder collaboration to ensure that AI technologies are developed and deployed responsibly, transparently, and in the best interest of consumers.

“Regulatory interventions in this realm will ensure that AI technologies serve as tools for empowerment rather than sources of exploitation.”

Abdullahi said the commission remained resolute in its determination to protect consumers and create the enabling environment for businesses to compete.

On the rapidly rising price of food, he explained that the Commission is not a price control agency, but its deeply committed to addressing the rapid rise in food prices affecting Nigerian consumers.

“The surge in food prices can be attributed to various factors, including market cartels, price fixing, hoarding, and gouging or a lack of transparency in pricing.

“The FCCPC is actively engaged in combating these challenges to ensure fair pricing and protect consumers’ interests,” he added.