artificial intelligence

Article archives from the Pricing Pricing Society

Pricing and Artificial Intelligence: A Match Made in Heaven?

With the ability to analyze vast amounts of data in real time, Artificial Intelligence (AI) algorithms offer the potential to identify optimal pricing for products or services at any given time. However, as with any new technology, there are potential drawbacks that businesses must be aware of to ensure effective and ethical implementation. In this article, the author explores the benefits and drawbacks of Price Optimization using AI algorithms, as well as solutions businesses can implement to navigate the challenges and maximize the benefits.

Machine Learning for the Masses: Regression Analysis

Machine learning and artificial intelligence have become very popular topics in the pricing community. However, many perceive these tools as overly complex and not practical to implement quickly into their existing processes. In this article, the author presents a machine learning technique called regression analysis and demonstrates simple applications that can be readily employed by pricers in any industry.

Artificial Intelligence for Pricing

Artificial Intelligence (AI), and particularly Machine Learning (ML), will change the game for pricing. But AI’s just the tip of the iceberg. You need first to make sure that the foundations of your business - your pricing strategy and implementation plan, data, workforce, etc. - are solid so you can introduce AI constructively, as the authors explain.

By |2022-05-14T20:04:19+00:00April 30, 2019|Price Automation, Pricing Articles|0 Comments
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