How does AI influence prices when you’re shopping online? Experts say it’s hard to know

Source Domain: www.cbc.ca

Dynamic pricing utilizes algorithms to adjust prices based on individual online behavior and personal information, making it harder for consumers to find consistent pricing.
AI enhances personalized pricing by collecting vast amounts of unstructured data about users, which is then condensed into economically valuable profiles by companies.
Current algorithmic pricing practices are legal but largely unregulated in Canada; the Competition Bureau of Canada is conducting a consultation to understand concerns and vulnerabilities surrounding this practice.
Personalized pricing is not unique to online transactions; it has long existed in offline sectors such as car dealerships and physical stores, where prices are adjusted based on various factors including customer data and supply and demand.
To mitigate algorithmic pricing, individuals can clear their online cache and cookies, be mindful of data they share, and opt for more private shopping behaviors like in-store purchases with cash to avoid data tracking.

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