FCCPC: Unregulated AI May Exploit Consumers, Pose Cyber-security Risks

James Emejo in Abuja

The acting Executive Vice-Chairman/Chief Executive, Federal Competition and Consumer Protection Commission (FCCPC), Dr. Adamu Abdullahi, has said expressed concerns that the integration of Artificial Intelligence (AI) in the country’s consumer landscape, if not regulated, would result in unintended consequences including privacy concerns, exploitative practices, limited access and cyber-security risks.

Speaking at a media briefing to commemorate the World Consumer Rights Day, with the theme, “Fair and Responsible AI for Consumers,” he said in rapidly evolving digital landscape, the proliferation of AI presented both opportunities and challenges for consumer protection.

He noted, however, that recognising the Nigerian consumer landscape and its inherent challenges, the commission acknowledges the pivotal role of AI in shaping proactive strategies to safeguard consumer rights and interests.

According to him, these include predictive analytics, personalised recommendations, fraud detection, automated customer support, privacy protection, fair pricing, transparency and product quality assurance.

Abdullahi, nonetheless, said addressing the concerns and potential devastating effects of AI required 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.

He said, regulatory interventions would ensure that AI technologies served as tools for empowerment rather than sources of exploitation.

Besides, he said the commission was worried about rapidly rising price of food in the country as witnessed in most countries of the world, adding that the FCCPC remained actively engaged in combating these challenges to ensure fair pricing and protect consumers’ interests.

He said, “As we navigate the complexities of the digital age, permit me to state that FCCPC is also concerned with other prevailing issues bedeviling consumers in Nigeria, particularly the rapidly rising price of food, as in most other nations of the world.”