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Drudge Retort: The Other Side of the News
Wednesday, July 24, 2024

The Federal Trade Commission is launching an investigation into so-called "surveillance pricing." The agency is seeking more information about how artificial intelligence is used to change pricing rapidly based on data about customer behavior and characteristics.

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... The FTC says the practice allows companies to charge different customers, different prices.

The agency is serving eight companies with a mandatory request for information " all companies it says advertise their AI and other tech tools along with a trove of customer information to target prices to individual customers.

The list includes Mastercard,
JPMorgan Chase, Accenture and consulting giant McKinsey. It also includes software firm Task, which counts McDonald's and Starbucks as clients; Revionics, which works with Home Depot, Tractor Supply

and grocery chain Hannaford; Bloomreach, which services FreshDirect, Total Wine and Puma; and Pros, which was named Microsoft's internet service vendor of the year this year.

"Firms that harvest Americans' personal data can put people's privacy at risk," FTC Chair Lina Khan said in a news release. "Now firms could be exploiting this vast trove of personal information to charge people higher prices."

Kahn describes surveillance pricing as a "shadowy ecosystem of pricing middlemen." ...



#1 | Posted by LampLighter at 2024-07-24 01:28 AM | Reply

So, when you go into a store, and the store's surveillance system notes the MAC address of you smartphone, the store will then consult databases to see how much they can get away with charging you for items.

#2 | Posted by LampLighter at 2024-07-24 01:29 AM | Reply

We all know where this is going.

#3 | Posted by fresno500 at 2024-07-24 05:58 AM | Reply

Target does this all the time.

I will look at the online price, see that it is in stock at my store, head there and price is 5% higher in store and the online price magically changes.

#4 | Posted by Nixon at 2024-07-24 07:46 AM | Reply

Target does this all the time. I will look at the online price, see that it is in stock at my store, head there and price is 5% higher in store and the online price magically changes.
#4 | Posted by Nixon

Yeah, they were sued for it.

"Target Corp. pays $5 million to settle pricing lawsuit - Target Corp. has agreed to pay $5 million to settle a California lawsuit alleging the retail chain changed prices on its mobile app after customers entered stores and charged them more than advertised." apnews.com April 29, 2022

#5 | Posted by censored at 2024-07-24 09:31 AM | Reply

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