Dynamic pricing, liability, and the algorithm's need for a lawyer
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Dynamic pricing, liability, and the algorithm's need for a lawyer
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From ride-share apps to concert tickets, Australians have been exposed to dynamic pricing practices across the board. In the age of AI, it is critical to explore whether our legislative and regulatory consumer protections remain fit for purpose, and whether algorithms may soon require their own legal advice.
In this episode of The Lawyers Weekly Show, host Jerome Doraisamy speaks with Maddocks partner Shaun Temby about how dynamic pricing works, the risks inherent with consumers not getting the best deal, how the algorithm fits into such pricing practices, the legislative and regulatory state of affairs, whether existing laws capture the changing landscape in the age of AI, consequences for businesses found to have engaged in deceptive conduct, whether algorithms will need legal representation, who bears liability, and how lawyers in this space can be responding to the changing climate.