The Federal Trade Commission (FTC) announced an investigation into a network of intermediaries, including Accenture, JPMorgan Chase & Co., Mastercard, and McKinsey & Co., focusing on their role in enabling businesses to individualize product prices based on users’ browsing histories, past purchases, credit histories, and other personal data. This technique, termed “surveillance pricing” by the FTC, leverages advances in artificial intelligence and machine learning. According to FTC Chair Lina Khan, “Firms that harvest Americans’ personal data can put people’s privacy at risk. Now firms could be exploiting this vast trove of personal information to charge people higher prices.”
To gain further insights into how surveillance pricing impacts privacy, competition, and consumer protection, you may find additional details in the original article.