Anna Hensel writing in Modern Retail’s Supply Chain weekly newsletter about the backlash some retailers like McDonald’s and Walmart are facing about their AI-powered surveillance pricing strategies:
As AI becomes more prevalent, concerns around dynamic pricing are growing. There’s a fear that retailers will become more surgical with how they use consumer data. In particular, that they could use AI to make recommendations on what to charge down to the individual shopper level.
The unfortunate fact is that retailers will do this as long as it’s technically possible and unregulated. We need to call it what it is. This is not dynamic pricing. It’s pricing powered by personal data acquired through surveillance of the masses and it should be illegal.
