Lianos, Ioannis; (2025) Synthetic Futures and Competition Law. Theoretical Inquiries in Law , 26.1 (1) pp. 89-122. (In press).

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Abstract

This Article presents an in-depth analysis of the challenges that competition law enforcement faces in light of the rapid advancements in AI, quantum computing, and synthetic biology. It delves into the various approaches that competition law institutions, such as competition agencies and courts, can adopt to address the uncertainties surrounding the competition impact of corporate strategies and conduct in developing and applying these new general purpose technologies. The Article focuses on the four key features of this “coming wave”: asymmetry, hyper-evolution, omni-use, and autonomy, all interconnected with the rise of complex systems that contribute to uncertainty. It explores the limitations of the ordinary risk management (ORM) approach typically followed in competition law, based on the expected utility framework. It advocates for the application of the precautionary principle as a more accurate description of the approach taken by competition authorities in this context and a more normatively adequate option for regulating threats of harm in complex systems while incorporating responsible innovation concerns. Moreover, the Article extensively examines how the precautionary principle can be seamlessly integrated into the design of competition law institutions and the substance of competition law, discussing the various containment tools used by competition authorities to address uncertainty.

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