Competition Bureau investigating possible AI use in setting rent prices

The Competition Bureau is investigating whether AI algorithms are being used by landlords to set rent prices in Canada’s real estate markets.

The practice, called algorithmic pricing, involves using AI-driven software to monitor how other landlords and housing corporations are pricing their rental units.

A U.S. anti-trust lawsuit claims that companies are using this software to collude and artificially inflate rents.

No legal action has been taken in Canada yet, as the investigation is ongoing.

Canadian officials say they cannot release any information at this time, but have promised to act if they discover any legal concerns.

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