New York state law takes aim at personalized pricing
NeutralArtificial Intelligence
- New York state has enacted a law requiring businesses that utilize personalized pricing to disclose to customers that their prices are determined by algorithms based on personal data. This legislation aims to enhance transparency in pricing practices.
- The introduction of this law is significant as it addresses growing concerns about the ethical implications of using personal data for pricing strategies, potentially impacting consumer trust and business practices in the state.
- This development reflects a broader trend of regulatory scrutiny over artificial intelligence and data usage, as seen in New York's recent RAISE Act, which aims to ensure safety and accountability among AI developers, highlighting the ongoing dialogue about the balance between innovation and consumer protection.
— via World Pulse Now AI Editorial System
