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.
The FTC says the practice allows companies to charge different customers, different prices.
"Firms that harvest Americans' personal data can put people's privacy at risk," FTC Chair Lina Khan said in a news release.
Kahn describes surveillance pricing as a "shadowy ecosystem of pricing middlemen."
Mastercard said in a statement, "We will cooperate with the FTC in this process."
Persons:
Lina Khan, Kahn
Organizations:
Federal Trade Commission, CNBC, Summit, FTC, Mastercard, JPMorgan Chase, Accenture, McKinsey, Home Depot, Tractor Supply, Hannaford, Puma
Locations:
Washington ,