Consumer Policy

Abstract

Consumer policy is designed to protect welfare and rights of consumers. The recent advancements in artificial intelligence (AI) and its integration with the privacy aspects of consumer information need potential attention due to illegal activities in terms of fraud. The rapid progress of AI represents significant risks to safeguarding consumer privacy and ensuring data security. The integration of AI inside several industries, such as e-commerce platforms, and financial technology, has become prevalent. This leads to emphasizing the significance of developing comprehensive legal and regulatory frameworks to address effectively the challenges related to consent, data minimization, accuracy, discrimination, and bias. The chapter explores the concept of AI and its public and private use in consumer policies. The key components are highlighted in making consumer policy along with the relationship between AI and data privacy aspects. Finally, it presents the challenges faced by consumers in accessing vital information, that lead to imbalances between companies and customers.