AI is redefining how pricing and connected functions work. Let’s share ideas and experiences on how we are using AI in our work and how AI will change the nature of that work.
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It is hard to remember work before generative AI tools became easily available and easy to you. For me this primarily means tools built on transformer models (learning more about diffusion models and how to use them in new ways is in my learning plan for 2025). I lean on generative AI for virtually every aspect of my work.
For this community some of the more interesting things may be …
Generating formal value models. Ibbake has developed an agent which is able to generate formal value models (of the Tom Nagle Economic Value Estimation or EVE style) that are better than what even a highly trained pricing expert can do.
Value model and pricing model analysis. We are formalizing our analysis process using AI.
Take a collection of value models from 4-7 companies and generate a category value map for a category that looks at the underlying structure of value in a category. Vendors can use these to understand their competitive positioning and buyers can use them to understand which solution best meets their needs.
Ai enabled buying processes. Packaging and pricing needs to support the buying process (buying process not sales process) so we are developing AI tools to support the buying process that we can then use to test packaging and pricing models.
We are working on AI based processes to design/generate packaging and pricing models - this is still early stage.
We are investigating new approaches to pricing optimization using combinations of different types of AI.
Note that in the latest Growth Unhinged post Kyle used building a pricing advisor app as an example. The new way to build software