Photo by Google DeepMind on Pexels

In a landmark move, New York has banned landlords from using artificial intelligence (AI) and algorithms to determine rental prices. Governor Kathy Hochul signed the legislation, citing worries about potential algorithmic collusion and its impact on housing affordability. The new law, set to take effect in 60 days, prohibits landlords from employing software designed to artificially inflate rental costs through non-competitive practices. The legislation aims to ensure fair pricing in the rental market and prevent price-fixing strategies facilitated by AI technology.