The agency is seeking more information about how AI is used to change pricing rapidly based on data about customer behavior and characteristics.
The agency is seeking more information about how artificial intelligence is used to change pricing rapidly based on data about customer behavior and characteristics.
It's serving eight companies with a mandatory request for information — all companies it says that advertise their AI to target prices to individual customers. Lina Khan, chair of the Federal Trade Commission, speaks during the 2024 CNBC CEO Council Summit in Washington, D.C. on June 4, 2024.The Federal Trade Commission is launching an investigation into so-called "surveillance pricing," seeking more information about how artificial intelligence is used to change pricing rapidly based on data about customer behavior and characteristics.
"Firms that harvest Americans' personal data can put people's privacy at risk," FTC Chair Lina Khan said inThe FTC is demanding information about the types of products and services offered; how the companies collect consumer data; who their customers are; how the clients are using this product or service; and what impact it has on consumer pricing.
The agency's undertaking the action under its 6 authority, which authorizes it to collect information for study without a specific law enforcement action.
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