The guest on this podcast is Kiran, CEO and founder at Rapid Pricer. They discuss the impact of AI in B2B pricing and how individuals without programming expertise can leverage it. They also explore the future of AI in pricing and building an organizational structure for AI solutions. Finally, they highlight the expanding utilization of AI in B2B pricing and offer a workshop on the topic.
AI can be utilized in B2B pricing to analyze data patterns and enhance decision-making.
Incorporating AI in B2B pricing requires understanding its capabilities and setting clear integration goals.
Deep dives
The Impact of AI in B2B Pricing
AI has already had a significant impact on various industries, including pricing, and its influence will continue to grow in the future. Although AI may not be immediately visible on the front end of pricing processes, it is already being used in the back end for data storage, processing, and cleaning. Additionally, AI-powered tools can analyze patterns in data, such as customer purchase behavior, providing valuable insights. AI can also be utilized to enhance decision-making in B2B pricing, helping to analyze conversations and understand the intent of potential clients. The automation of pricing processes is set to become more prevalent, making decision-making more efficient and seamless.
Incorporating AI in B2B Pricing
Incorporating AI into B2B pricing does not require extensive coding knowledge on the part of pricing professionals. Instead, it is important to have an understanding of what AI is capable of and how it can be leveraged to achieve specific goals. By being aware of the possibilities that AI offers, such as tools that can analyze email content or customer preferences, businesses can explore and integrate AI solutions into their pricing strategies. It is also crucial to have a clear idea of where one wants to go with AI integration, as it will help in setting the right direction in leveraging the technology effectively.
The Future of AI in B2B Pricing
In the future, AI is expected to further automate and streamline B2B pricing processes. From better computing power to data processing, insights, recommendations, and pricing points, the aim is to make decision-making more efficient and automated. As AI progresses, it will likely offer more advanced features, guiding users through automated processes and suggesting actions based on conversations or data analysis. While it is unlikely that AI will completely replace humans, it will significantly enhance decision-making, making it more seamless and providing businesses with the opportunity to close deals more efficiently. Exploring AI strategies and tools is key to unlocking the benefits it can offer in B2B pricing.
Artificial intelligence is making an impact on many industries and pricing is one among them. While a completely automated pricing solution for B2B is still far away there are many innovations that have already been built specifically for B2B pricing professionals. These innovations can be leveraged today and our workshop will cover on how to do this.
Kiran is the CEO and founder at Rapid Pricer, an Artificial Intelligence based company in Amsterdam that specializes in reducing food waste through real time pricing for retailers. Previously, he had founded CustoLogix in the year 2008 to help retailers leverage analytics and mathematical capabilities for pricing and promotions. Recently, Kiran has also founded Global Launch Base, an internationalization consulting firm in 2021 which helps European companies with international go-to-market strategies and market launches. Biography He has over 16 years of experience launching innovative technologies around the world.
He has consulted on behalf of large consulting companies such as PwC, IBM and Kurt Salmon at some of the largest retailers in the world. His entrepreneurial experiences include successful ventures in the Silicon Valley, Mexico City, Bangalore, Amsterdam and New Delhi. He holds a Bachelor's Degree in Mechanical Engineering with honors from the Bangalore Institute of Technology and an MBA from the Pepperdine University on a full merit scholarship.
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