So here’s the thing. There used to be a practice in home lending called “red-lining.”

Banks would have a map of their local area to show where lending opportunities were. Bank leadership would take a red marker and draw lines around areas where they were unwilling to lend.
You won’t be surprised to find out that those areas were primarily minority communities.

This practice was made illegal by the Fair Housing Act.

However, the practice is still in effect in a different way. Essentially, banks have made new terms and politics to continue to underserve and not lend to predominantly minority communities.
Terms like “creditworthiness” “inadequate comparable properties on your area” “high risk areas” are used by banks to justify avoiding giving loans to people in certain areas. They conveniently ignore there demographics of those areas as a deciding factor while having the same outcome.

So, here we are with AI possibly giving individuals unique fare prices.
There are many factors that will go into these prices, I’m sure, but it has a lot of potential to make decisions that align with other data points which can conveniently not be officially stated.

I’m not saying this will necessarily end badly, but I am saying that having AI make decisions about individual personal prices gives yet another degree of separation from the decisions made by company leadership and the impact of those decisions. They can distance themselves even more from accountability if their criteria is suspect by giving AI the reigns.

Since we are not properly regulating things like this yet, my trust in the potential process is not high.