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The Federal Trade Commission ordered eight companies to provide information about their practices of "price monitoring".
The Federal Trade Commission (FTC) in the USA has requested information from eight companies, stating that these companies use personal data to price their products and services based on the individual characteristics of shoppers. In a statement on Tuesday, the FTC said it is seeking a better understanding of the "opaque market" of "surveillance pricing," which uses consumer data - including credit information, location, and browsing history - to charge different prices to different customers for the same commodity. The agency noted that to do this, third-party institutions are involved.
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FTC will investigate the "price tracking" behavior and call it a "dark ecosystem".
The Federal Trade Commission (FTC) in the United States is investigating the so-called "surveillance pricing" behavior to seek more information on how artificial intelligence can quickly change pricing based on customer behavior and characteristic data. FTC Chairman Lina Khan FTC said that many companies use this method to charge different prices to different customers. The agency has made mandatory information requests to eight companies. FTC said these companies are all promoting their artificial intelligence and institutions.
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Express News | U.S. FTC Says It Issues Orders To Eight Companies Seeking Information On Surveillance Pricing; Orders Sent To Mastercard, Revionics, Bloomreach, JPMorgan Chase, Task Software, Pros, Accenture, And McKinsey & Co