#257 Can You Use AI-Driven Pricing Ethically? with Jose Mendoza, Academic Director & Clinical Associate Professor at NYU

As AI continually changes how businesses operate, new questions emerge around ethics and privacy. Nowadays, algorithms can set prices and personalize offers, but how do companies ensure they’re doing this responsibly? What does it mean to be transparent with customers about data use, and how can businesses avoid unintended bias? Balancing innovation with trust is key, but achieving this balance isn’t always straightforward.Dr. Jose Mendoza is Academic Director and Clinical Associate Professor in Integrated Marketing at NYU, and was formerly an Associate Professor of Practice at The University of Arizona in Tucson, Arizona. His focus is on consumer pricing, digital retailing, intelligent retail stores, neuromarketing, big data, artificial intelligence, and machine learning. Previously, he taught marketing courses at Sacred Heart University and Western Michigan University. He is also an experienced senior global marketing executive with over 18 years of experience in global marketing alone and a career as an Engineer in Information Sciences. Dr. Mendoza is also a Doctoral Researcher in Strategic and Global pricing, Consumer Behavior, and Pricing Research methodologies. He had international roles in Latin America, Europe, and the USA with scope in over 50 countries. In the episode, Richie and Jose explore AI-driven pricing, consumer perceptions and ethical pricing, the complexity of dynamic pricing models, explainable AI, data privacy and customer trust, legal and ethical guardrails, innovations in dynamic pricing and much more. Links Mentioned in the Show:NYUConnect with JoseAmazon Dynamic Pricing Strategy in 2024Course: AI EthicsRelated Episode: The Future of Marketing Analytics with Cory Munchbach, CEO at BlueConicSign up to RADAR: Forward EditionNew to DataCamp?Learn on the go using the DataCamp mobile appEmpower your business with world-class data and AI skills with DataCamp for business

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