New AI Tool to Combat Bid-Rigging

Sarah Cardell, the Chief Executive of the United Kingdom's Competition and Markets Authority (CMA), has issued a warning about the significant risk of bid-rigging within British procurement markets. In an interview with the Financial Times, Cardell revealed that the CMA is currently testing a groundbreaking artificial intelligence tool. This tool is designed to sift through extensive bidding data to identify irregularities and potential anti-competitive behaviors.

Legislative Changes Aimed at Simplifying Bidding Process

Cardell also highlighted a forthcoming government initiative set to take effect in February. This program aims to streamline the bidding process, while also empowering the government to disqualify companies that violate the rules from participating in bids. According to Cardell, this new legislation holds the promise of unlocking billions in savings for the public treasury, in addition to boosting productivity within the public sector.