The main purpose of this article is to answer the question how, in accordance with currently applicable law, the legal status and definition of artificial intelligence can be correctly determined. This study is also intended to present the functions that artificial intelligence can perform in competition and consumer protection law. The thesis statement of the article is that artificial intelligence can be an effective tool for entrepreneurs to run their business even more profitably. The advanced algorithms most commonly used by entrepreneurs include chatbots, voicebots, intelligent assistants and recommendation engines. Another thesis statement is that we cannot exclude tort liability of entrepreneurs for actions or omissions of artificial intelligence in the area of antitrust law, even in a situation when we are dealing with advanced unsupervised self-learning algorithms, because the contrary conclusion would involve too much risk of abuse and potential serious harm to consumers. The article also presents the ways in which artificial intelligence can contribute to improving the work of antitrust authorities. As for proposals of legislative amendments, the legislator should introduce a comprehensive and precise legal regulation regarding the legal status of artificial intelligence and the issue of tort liability for actions or omissions of advanced algorithms.