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How AI Driven Dynamic Pricing in Food Retail Could Impact Your Grocery Bill
Manage episode 435019974 series 3562174
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Dynamic pricing, driven by AI, is becoming more prevalent in various industries, including supermarkets, transportation, and insurance. While it offers convenience and the potential for bargains, it can also lead to higher prices and unpredictability for customers. The use of real-time data and AI algorithms allows businesses to adjust prices based on supply and demand, inventory levels, and customer behavior. However, there are concerns about fairness, transparency, and the potential for AI errors. Dynamic pricing is likely to become the new norm as AI enables businesses to analyze vast amounts of data and make pricing decisions in real time.
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