By — Paul Solman Paul Solman By — Diane Lincoln Estes Diane Lincoln Estes Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/how-companies-are-using-ai-to-make-you-spend-more-money Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Audio Companies have always tried to maximize profits, but now there are a host of sophisticated tools to determine the prices of the goods and services they sell. At a time when so many Americans are frustrated with rising costs, those tools are under greater scrutiny. Economics correspondent Paul Solman explains how that technology is transforming the prices we pay. Listen to this Segment By — Paul Solman Paul Solman Paul Solman has been a correspondent for the PBS News Hour since 1985, mainly covering business and economics. @paulsolman By — Diane Lincoln Estes Diane Lincoln Estes Diane Lincoln Estes is a producer at PBS NewsHour, where she works on economics stories for Making Sen$e. @DianeLincEstes
How companies are using AI to make you spend more money
In short
Commercial enterprises are deploying advanced technological mechanisms to calculate product rates and secure higher profit margins. These automated tools directly influence the day-to-day costs that people encounter when shopping for everyday goods and services. Consequently, corporate reliance on algorithmic price setting is facing growing scrutiny as American consumers express frustration over the rising expense of living.
Key points
- Algorithmic tools directly alter the final prices that consumers encounter when shopping…: Algorithmic tools directly alter the final prices that consumers encounter when shopping in the marketplace.
- Everyday shoppers are facing additional financial pressures due to the deployment of prof…: Everyday shoppers are facing additional financial pressures due to the deployment of profit-maximizing corporate software.
- Frustration among Americans regarding the rising costs of essential items is fueling push…: Frustration among Americans regarding the rising costs of essential items is fueling pushback against automated retail pricing.