Chapter 21 Artificial Intelligence and Its Impact on Pricing Technology
Louis Columbus
Introduction
We are going through an AI pricing revolution. There is no denying it. The last five years have been nothing short of a major leap forward in science in the pricing space. Companies are beginning to notice the impact of these developments and are pouring major investments into new technologies. Look at these impressive statistics!
- AI-based pricing and promotion have the potential to deliver $259.1 billion to $500 billion in global market value, according to McKinsey Global Institute (2018).
- The global revenue management market is expected to grow from $14.5 billion in 2019 to $22.4 billion by 2024, attaining ...
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