SF3098

Purpose of the Bill

The bill aims to enhance consumer protection by prohibiting the use of artificial intelligence (AI) for dynamically setting product prices.

Main Provisions

• Prohibition on AI in Pricing: The bill prohibits individuals and businesses from using artificial intelligence to adjust, fix, or control product prices in real time. This includes using AI to respond to factors like market demands, competitor pricing, inventory levels, or customer behaviors.
• Definition of Artificial Intelligence: AI is defined as any machine-based system that can infer and generate outputs from inputs to make decisions, predictions, or recommendations affecting environments.
• Enforcement: The enforcement of this prohibition will be overseen by the Minnesota Attorney General, according to the existing legal framework provided in section 8.31.

Significant Changes to Existing Law

• This bill proposes the introduction of a new section in Minnesota Statutes, specifically chapter 325F, dedicated to the prohibition of dynamic pricing using artificial intelligence.

Relevant Terms

artificial intelligence, dynamic pricing, consumer protection, market demands, competitor pricing, inventory levels, customer behavior, Attorney General, Minnesota Statutes chapter 325F