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How AI Can Help Companies Set Prices More Ethically

Using AI and data-driven tools, companies can change the price of a good or service based on who is buying, when they’re shopping, and myriad other factors. This power raises a question: Should ethics and societal values factor into these prices — and how? Companies should consider what they’re selling, who they’re selling to, and how they’re selling their products, and consider the range of possible impacts. Then, they should 1) get creative about reducing negative externalities, 2) reach out to stakeholders, and 3) build proactive filters into their pricing deliberations.

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Photo Credits: Getty Images/ilbusca

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