FTC Chair Lina Khan warns of price-fixing potential with AI-driven algorithms in the healthcare industry.
FTC Chair Lina Khan has warned that new technologies, particularly algorithms, can enable companies to fix prices without direct coordination, creating challenges for market regulators. This could lead to increased prices, especially in the healthcare industry, as companies use AI to set individualized prices based on consumers' behavioral data. The FTC is scrutinizing this practice and hiring technologists to better understand and monitor these companies' activities.
April 24, 2024
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