Clive Humby coined the phrase "data is the new oil," emphasizing the rising value of data in the digital economy, highlighting how companies leverage algorithms for personalized pricing.
The Federal Trade Commission aims to uncover the practices of companies using AI in pricing strategies, focusing on potential consumer impacts and competition issues in the marketplace.
Stephanie Nguyen from the FTC states that "surveillance pricing" is a burgeoning area of investigation, as they seek to understand how data collection influences individual pricing.
#data-privacy #algorithmic-pricing #federal-trade-commission #surveillance-technology #consumer-rights
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