Pricefx, the global leader in cloud-native pricing software, has announced the incorporation of conversational AI capabilities in its pricing platform. This move aims to simplify customer interactions and aligns with Pricefx’s commitment to deploying AI that makes sense for business users.
The new generative AI (GenAI) capabilities set to be introduced in 2024 will revolutionize the user experience on the Pricefx platform by offering conversational interactions. Users will have the ability to control the application and receive intended results through a chat-like experience. By describing their requests in everyday language, the software will provide answers and guide them to relevant application screens, thanks to the automatic interpretation of inputs by AI. The results will be summarized, helping users identify the actions that will have the highest business impact more quickly.
These new GenAI features will complement the existing AI technology capabilities already available on the Pricefx platform. Pricefx utilizes a diverse AI technology landscape for price optimization tasks, including traditional machine learning, agent-based AI, and generative AI. This allows customers to leverage the transparent AI-powered price optimization results and build flexible applications using their own data science investments. With the incorporation of conversational GenAI capabilities, Pricefx further expands its natively integrated AI, offering even more business advantages to its customers.
Billy Graham, Chief Product Officer for Pricefx, expressed the company’s commitment to bringing AI-enabled solutions to market. He emphasized Pricefx’s industry leadership in delivering cloud-native SaaS pricing platforms and AI-powered price optimization solutions, adding that the integration of conversational GenAI into their software will help customers achieve optimal business outcomes and surpass their competition.
Initially, the conversational GenAI capabilities will simplify interactions with Pricefx’s Knowledge Base and Actionable Insights. This will streamline tasks for Pricefx users, enabling them to spend more time on pricing strategies and accelerate their journey to value.
The Pricefx Knowledge Base serves as the primary source of information about the Pricefx solution for various roles, from business users to configuration engineers. The incorporation of GenAI will make this content more accessible by allowing users to ask open-ended questions, receive navigation guidance, and access simplified or summarized content.
Actionable Insights, another feature of the platform, provides continuous observation of selected data and suggests relevant follow-up actions for data-driven decision-making. With the new GenAI capabilities, users can automatically observe data trends using natural language, such as setting up a new insight for customer churn in a specific business unit. Additionally, they can request recommendations for resolving specific business needs. Chat-based interactions with Actionable Insights significantly enhance the speed of decision-making, facilitating the creation and implementation of curated insights and recommendations.
Pricefx is continuously exploring, developing, and incorporating additional GenAI features into future product releases, demonstrating its commitment to innovation. More information about Pricefx’s AI capabilities can be found on their website.
Pricefx is recognized as the global leader in SaaS and AI pricing software, offering a comprehensive suite of solutions that are quick to implement, customizable, and user-friendly. Their cloud-native architecture enables them to provide the industry’s fastest time-to-value and highest return on investment. With a focus on large enterprise B2B companies in industries such as Manufacturing, Distribution, and Process Engineering, Pricefx’s solution drives high-impact results. The company’s business model is centered around customer satisfaction and loyalty.
Overall, Pricefx’s incorporation of conversational AI capabilities in its pricing platform is set to revolutionize customer interactions and simplify user experiences. With the addition of GenAI, users will benefit from enhanced control, quicker access to information, and actionable insights, allowing them to optimize their pricing strategies and stay ahead of the competition.
