Hoboken's city council has taken steps to potentially ban the use of AI tools for setting rents, aiming to combat corporate greed that adversely affects local families. This initiative follows a similar measure in Jersey City, with fines and possible jail time for offenders. Concerns have been raised about algorithms driving up housing costs through collusion between landlords and software providers. New York's lawmakers are also pursuing similar legislation, reflecting growing scrutiny over how AI impacts the rental market.
This is rank corporate greed that Hoboken will not tolerate because it's having a direct impact on families in the city.
If passed, Hoboken would follow its neighbor Jersey City, which adopted a similar law last month.
Landlords who use the tools upload information about their apartment units, including private details on rental rates.
Critics say that this sharing of proprietary information amounts to collusion by the landlords and software providers to manipulate the market.
Collection
[
|
...
]