Will Artificial Intelligence Be Controlling The Price Of Your Weekly Grocery Shop?

Artificial Intelligence (AI) could soon be deciding how much your weekly grocery shop costs, with dynamic pricing expected to become common place in the coming years. Dynamic pricing sees the costs of products change throughout the day according to factors such as demand and availability. You may have already witnessed similar pricing strategies with the likes of Expedia, who adapt prices based on your internet data and history, and Uber, who use "surge" prices when there is an increased demand, and cinemas are now even experimenting with such schemes. With the rise in popularity of internet shopping and tech giants like Amazon getting involved in the grocery sector, brick and mortar stores are becoming inventive to keep consumers shopping in-store. We are seeing consumers increasingly take a hybrid approach to their shopping, comparing prices online and buying in store. As a result of these changing shopping habits, supermarkets will increasingly turn to real-time data to react to market trends.