INTHEBLACK: The risks and rewards of dynamic pricing for business

As technology and artificial intelligence grow in sophistication, dynamic pricing is increasingly being considered as part of a pricing strategy. What are the benefits and potential pitfalls that businesses should be aware of? In this episode, you'll learn how dynamic pricing has evolved into sophisticated real-time pricing powered by algorithms and data analytics. Discover the critical balance between profitability and maintaining customer trust, with insights on avoiding common pitfalls like unfair surprise pricing and discriminatory practices. Explore the importance of transparency in pricing strategies and understand why businesses need strong governance mechanisms when implementing AI-driven pricing systems. Find out how companies can effectively implement dynamic pricing while staying within ethical boundaries and why human oversight is crucial. Host: Garreth Hanley, podcast producer, CPA Australia Guest: Jeannie Marie Paterson, Professor of Law and Director of the Centre for AI and Digital Ethics at the University of Melbourne You can learn more about Jeannie's work at the University of Melbourne. Would you like to listen to more INTHEBLACK episodes? Head to CPA Australia's YouTube channel. And you can find a CPA at our custom portal on the CPA Australia website.  CPA Australia publishes four podcasts, providing commentary and thought leadership across business, finance and accounting: With Interest INTHEBLACK INTHEBLACK Out Loud Excel Tips Search for them in your podcast platform. Email the podcast team at [email protected]