Dynamic Pricing – Future Tense Podcast

Today I discovered a new podcast that I’ve now subscribed to. It is called Future Tense and various topics are discussed in it, from technological advancements and politics to more philosophical and practical daily things.

I listened to the episode called “Dynamic pricing” in which the discussion revolved around the technologies and AI that companies use to sell their products and services at different price depending on the time of purchase for instance and demand. If you have been unfortunate enough to have been in the process of buying a flight ticket and had the price rise between stages of the purchase – well this is dynamic pricing…

The scary thing that was discussed was that companies are profiling as and can and will use this information to make us pay more.

One day you will walk in and out of a shop, not stopping to pay, and you’ll see what they have charged you later on, when it’s too late to go return the product. I find this possibility very unsettling and also unethical.

Companies don’t know how AI works out algorithms and they can easily back out saying “This is how the system works, we cannot do anything about it” which is already an easy way out in Britain – people shrug their shoulders and don’t own any responsibility, they don’t bother even question things.

I definitely recommend you listen to this episode – the complexity of the matters goes deeper and although they did stray into AI and rights, I found the information valuable food for thought.

 

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