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FTC targets Mastercard in major investigation into AI-based surveillance pricing | You could be paying more than your neighbor for the same product from the same vendor
The FTC unanimously voted to open an investigation into so-called "surveillance pricing." It already ordered eight companies, including Mastercard, to provide detailed information about their surveillance pricing...
The FTC's investigation spawned from multiple consumer complaints and advocacy groups that have been increasingly vocal about the need for greater transparency in how retailers use people's data. While Commissioner Melissa Holyoak supported the investigation with her "yay," she felt compelled to issue a statment noting that she does not agree with the "surveillance pricing" terminology. The outcome could set a precedent for how AI-driven pricing strategies are regulated in the future, potentially leading to more stringent guidelines and greater transparency in the use of consumer data.
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