The US Federal Trade Commission has started a probe into the possible misuse of personal data to set prices for different customers.
Mastercard, JPMorgan Chase, IT services provider Accenture, consulting firm McKinsey, and software providers Pros, Revionics, Bloomreach, and Task Software all have been asked for information by the FTC.
In particular, the FTC said it wants to assess how AI and consumer data might be utilized to target specific customers, though it added none of the companies asked to participate have been accused of wrongdoing.
"Firms that harvest Americans' personal data can put people's privacy at risk,” FTC Chair Lina Khan said in a statement.
“Now firms could be exploiting this vast trove of personal information to charge people higher prices."
A spokesperson for Revionics told Reuters it does not use individual consumer data or develop software to target prices to individuals and assesses market conditions when recommending prices to retailers.
"We are confident that the FTC will affirm the benefits of Revionics' AI price optimization software pending its research into this matter," the spokesperson said.
A spokesperson for Mastercard said it was reviewing the order and would cooperate with the FTC.
Advertisers have been using data on a customer's browsing history and locations for years to target them with specific items, but, with the growth of AI, the FTC said it is worried about "surveillance pricing” and collusion.