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So, this is a little creepy! There’s a growing concern that companies could use AI and all the personal data they collect about us…to figure out how much we might be willing to pay for something.
It’s called “surveillance pricing,” and the idea is that things like your location, shopping habits and other personal information could potentially be used to customize the price you see.
There’s not a ton of evidence that this is happening on a widespread basis yet, but the technology to do it absolutely exists.
And now California lawmakers are trying to put a stop to it. THANK YOU, please do so!
A bill making its way through Sacramento would ban retailers from using your personal data to determine the price you’re charged.
Supporters say it’s about basic fairness...we should all be seeing the same price...
But some economists argue personalized pricing could sometimes work in your favor and actually get you a cheaper deal.
Either way, I don’t love the idea that AI is basically looking at me and going, “Yeah…she’ll pay 20 bucks more.”