Unlocking the value of generative AI in pricing

As generative AI reshapes pricing and commercial operations, businesses will encounter integration hurdles. In the rapidly evolving business landscape, it is vital for organizations to adopt the transformative technology, strategically assess its capabilities, and invest intelligently in resources to achieve a successful generative AI implementation that enhances their competitive edge. By examining four critical factors, decision-makers can skillfully guide a seamless and effective implementation:

Recognizing the potential

Generative AI has the potential to revolutionize business patterns by creating breakthrough value in areas like dynamic pricing strategies that adapt to market conditions and customer behaviors.

Addressing the risks

To effectively deploy generative AI, businesses must understand its workings, evaluate internal capabilities, and invest in tools while carefully managing risks associated with the technology.

Industry-specific considerations

Consider industry-specific factors when implementing generative AI—such as 71 percent adoption in the technology industry and 30 percent adoption in consumer and retail.

From experimentation to industrialization

To fully realize generative AI's potential, businesses must develop a strategy that transitions from experimental use to industrialization. This requires investing in necessary resources, including technology and human capital, to demonstrate a commitment to transformation.