AI Price-Fixing: Are High Rents a Result of Algorithms?

AI Unplugged: Bytes and Insights host Oliver Mindburst

Read More: https://www.mindburst.ai/2024/08/ai-price-fixing-are-your-rent-costs-too.html
In the heart of modern cities, the relentless rise of rent prices has sparked growing concerns among tenants. As landlords increasingly turn to sophisticated property management software, like RealPage, the question arises: are we witnessing a new form of price-fixing driven by algorithms? This unsettling reality suggests that rather than engaging in traditional competition, landlords might be following centralized pricing strategies dictated by these algorithms. The implications are vast, as existing antitrust laws struggle to keep pace with technological advancements, leaving renters at risk of inflated housing costs. As we navigate this complex intersection of technology and ethics, it's essential to consider the consequences of allowing impersonal algorithms to dictate our fundamental need for housing. The conversation about transparency and fairness in our housing market is just beginning, and it's a dialogue that affects us all.