States Push New Laws Targeting AI ‘Surveillance Pricing’
Summary
Several U.S. states are proposing laws to restrict 'surveillance pricing,' particularly in essential services, as companies integrate AI. New York's Algorithmic Pricing Disclosure Act, passed last year, requires transparency in algorithmic pricing. Hosts should stay informed about pricing regulations as they evolve, and understand the impact on dynamic pricing strategies.
Key Insights
- •New York State passed the Algorithmic Pricing Disclosure Act, requiring companies to disclose the use of algorithms for personalized pricing.
- •More than a dozen U.S. states are proposing laws that would limit how companies use consumer search data to set prices.
Action Items
- ✓Hosts should review local and state regulations related to pricing transparency and algorithmic pricing.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to comply with pricing disclosure laws could lead to penalties, although the specifics are not mentioned. Hosts should consult legal counsel regarding changing regulations.
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