Ever wondered after snagging that deal on Amazon (45 % off!), whether it was the best possible deal? Did someone get better deal yesterday or last week? Worse still, is someone getting a better deal right now? It is now more possible than ever before for Amazon to price a product differently to different people (based on their assessed ability to pay or desperation/need for the product) at the same time, and no one is the wiser! So let us start a movement #BuyAndTellPrice. Each time we purchase a product- not just rate the product but also write the price of at which we bought it.
How desperate are you to get to your destination? Very? Then be ready to pay a higher price for your Uber ride. Uber is using Machine Learning Algorithms to estimate how much a customer is willing to shell out for a ride. You could be a young woman waiting to get back home from a late night party in New Delhi, or you could be someone rushing to a hospital to visit your close ones or someone getting late to an official meeting- Uber could easily know that using Machine Learning and the data that you have willingly handed over. It can understand your level of desperation and prices the ride just below the level you are willing to pay. While you will take the ride, be sure have been taken for a ride!