This is a news story, published by Scientific American, that relates primarily to FTC news.
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surveillance pricingScientific American
•87% Informative
The FTC sent information-seeking orders to eight companies that "have publicly touted their use of AI and machine learning to engage in data-driven targeting" The FTC wants to understand the scale of the practice, the kinds of user data that are being gathered, the ways algorithmic price adjustments might affect consumers.
The FTC is investigating whether collusion or other anticompetitive practices could be involved.
Algorithms are now taking personalized pricing from observable realm to a more shadowy domain.
Historically, the practice was based largely on observable traits and information gleaned through face-to-face interactions.
But in a world of mostly unregulated data collection, brands may be tweaking prices in more surreptitious ways.
Some experts object to FTC 's use of the word “surveillance,” arguing that it could imply a dystopian disregard for privacy.
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