Use case in production
The journey towards AI-based dynamic pricing
Pouyan R. Fard
Lead AI Consultant, Fard Consulting
Pouyan R. Fard is the Lead AI Consultant at Fard Consulting. Pouyan has years of experience advising companies, from startups to global corporations, on data science, artificial intelligence, and marketing analytics. He has collaborated with Fortune 500 companies in pharma & life science, energy & mobility, chemical, transportation, automotive, aviation, finance, insurance, human resources, and sales & marketing industries
In the past decade, AI and ML-based approaches to dynamic pricing have gained popularity among prominent market players and small and medium enterprises. Dynamic pricing and pricing optimization methods have driven significant revenue uplift for organizations across aviation, travel, transportation, and e-commerce industries. However, adopting a fully automated pricing optimization approach requires a high level of maturity in adopting AI and data-driven technologies to maximize profitability and reduce the organization's risk of revenue loss. This presentation will discuss the journey of maturity towards profitable AI-based dynamic pricing. In particular, we will discuss different methods for implementing dynamic pricing using AI and how organizations should plan their strategic pricing initiatives to increase the chances of profitability.