AI-based Pricing for Winning Customer Experience

"Machine learning applications will be commonplace within the next five years," says a report from Deloitte. I believe that artificial intelligence can enhance retail teams to build a perfect customer journey and increase annual revenue by 5 percent. Such giants as Amazon have been successfully using the power of neural networks to entice buyers: AI-powered pricing recommendations account for 35 percent of the retailer's earnings. "Offering consumers what they want, when they want it, will separate the winners from the losers," says Retail and Consumer Report 2018 by PwC. But from my experience in retail, "what they want" is not only about well-oiled marketing and logistics systems, or the product quality, but also about the prices which buyers deem right.