In this course we’ll address the concept of leveraging Gen-AI in various economic and operational circumstances to rapidly generate pricing insights. Disruption occurs at an ever-increasing pace, driving imperfect information, limited response time, and competing priorities. The commercial excellence discipline is one that requires a holistic approach to delivering results, and those who complete this course will come away with the understanding necessary to determine where to focus for maximum effect.
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What you'll learn
- The generative AI landscape and how it has evolved across industries
- The ways generative AI intersects with pricing and how businesses can capitalize on this synergy
- Best practices for for transitioning to generative AI-powered pricing models
Syllabus
Module 1 | Introduction to the Course
Welcome! This introductory 3-hour course will introduce the fundamentals of generative artificial intelligence (AI) and offer insights into how you can apply generative AI to pricing strategies in your own organization. This course is the first in a series of course collaborations between the Tuck School of Business at Dartmouth College and KPMG, a global leader providing business advisory services that address the toughest business challenges. Combining the academic rigor of Dartmouth with frontline case studies from KPMG executives, this course will expose you to best practices in generative AI-driven pricing strategies and will offer guidance in how your organization can transition to generative AI-powered pricing models.
Module 2 | Pricing Fundamentals
In this module, we'll embark on a journey to master the transformative role of Generative AI (Gen-AI) in strategic pricing, while also grounding our understanding in the fundamentals of traditional pricing approaches and their theoretical underpinnings. Starting with a solid foundation in conventional pricing strategies, we'll explore how to leverage high-quality, diverse data and implement robust governance to power effective AI-driven pricing models. We'll delve into ethical considerations, ensuring our use of AI in pricing is transparent, explainable, and aligns with the highest standards of fairness and privacy. As we navigate the complex regulatory landscape, we'll adapt our strategies to meet legal requirements, maintaining a competitive edge. By focusing on the seamless integration of Gen-AI into existing systems and fostering effective change management, this content aims to equip participants with the skills to innovate and continuously improve within their teams, embracing the advancements of Gen-AI in pricing with a commitment to excellence.
Module 3 | How Generative AI is Revolutionizing Pricing
In this module, we'll take a closer look at how pricing strategies are evolving from traditional models to more dynamic, Gen AI-driven approaches in response to today's ever-changing market conditions. We'll examine the significant role of Gen AI in enhancing decision-making and data analytics, providing deeper insights more quickly than was possible with older methods. Additionally, we'll explore how Gen AI is transforming market research, helping businesses to adjust their pricing strategies more effectively and respond with agility to market shifts. This session is designed to provide a practical understanding of the intersection between technology and pricing strategy, preparing you to navigate and succeed in an increasingly innovative business landscape.
Module 4 | Applications, Best Practices and Getting Started
In this module, we will explore the integration of generative AI into strategic pricing, starting with ensuring data quality and applying break-even analysis to evaluate the economic impact of new pricing strategies. We'll guide you through prioritizing rapid improvements in pricing decisions, utilizing generative AI to augment human expertise, and identifying key areas for its application to drive adaptive, responsive market strategies. As we navigate the challenges of implementing generative AI, we'll adopt an agile, learning-focused approach, encouraging iterative improvements and creative reimagining of traditional processes. Join us to discover how combining cutting-edge AI insights with foundational financial analysis can revolutionize your approach to pricing, setting the stage for informed, strategic decision-making in a competitive landscape.
