<p>Learning effective representations suitable for decision making in high-level cognitive space is crucial for visual abstract reasoning tasks. The visual system of the mammalian brain is organized into parallel networks that can be roughly classified in dichotomy as the dorsal and ventral streams. How do parallel networks learn efficient representations for cognitive tasks is still an elusive question. We propose the Information Competition Learning Network (ICNet) within a mutual information-constrained framework to learn diversified representations for visual abstract reasoning tasks. ICNet comprises a representation learning module and a rule extractor module. The representation learning module learns two complementary sets of representation under different constraints. These two sets compete to prevent from learning what the other has learned, thereby minimizing mutual predictability. Subsequently, these sets are combined synergistically and relayed to the rule extractor module, where discrete abstract rules are formed to predict the correct option. Empirical experiments consistently show that ICNet achieves superior results across several visual abstract reasoning datasets. Additionally, in Out-of-Distribution relationship reasoning benchmarks, ICNet demonstrates robust generalization ability.</p>