BIG BROTHER IS WATCHING YOU! THE FTC INVESTIGATES: SURVEILLANCE PRICING

The Federal Trade Commission (FTC) has launched an investigation into "surveillance pricing", a practice where companies use personal data collected through surveillance (often without consumers' knowledge or consent) to set dynamic, personalized prices for goods and services.

This practice uses advanced technologies like machine learning and AI to analyze consumer behavior, preferences, and habits to tailor prices to individual customers.

The FTC has issued orders to 8 companies, including McKinsey, Accenture, Mastercard and JPMorgan Chase, and others - to provide information on their surveillance pricing practices.

Initial findings were published and suggest that companies are using personal data to set targeted prices, including using location, demographics, and online behavior to charge different prices to different customers.

Full link: https://tracydecicco.substack.com/p/big-brother-is-watching-you-the-ftc.

#ftc #surveillancepricing #trd