Pricefx has introduced new artificial intelligence (AI) capabilities for its software-as-a-service (SaaS) software pricing platform.
“The new version of its price management, optimization and CPQ [configure price quote] platform helps customers to achieve a faster time-to-value by supporting the widest range of out-of-the-box AI Optimization business use cases on the market today,” the firm said in a news release Tuesday (June 25).
According to the release, Pricefx leverages machine learning, neural networks, agent-based AI and generative AI to help customers improve margins and make better data-driven decisions at scale.
Expanding on past AI capabilities, the latest version of the platform — dubbed Rampur 13.0 — includes List Price Optimization and Agreements Accelerator, along with new enhancements for integrations with SAP S/4HANA.
“We continue to heavily invest into our AI optimization capabilities to help our customers to drive their company goals through optimal pricing and providing optimal product mix,” said Billy Graham, chief product officer at Pricefx.
“For each AI optimized use case deployed, customers can recognize an additional 1-2% margin improvement on average. Our productized use cases give customers the fastest time-to-value, and the flexibility of our ‘bring your own science’ capability and the unmatched transparency of our clear-box AI ensures that customers have the trust and confidence for long-term adoption and future-proofing of their investment.”
In other recent AI-related news, parcelLab on Tuesday introduced an AI-powered tool to help retailers anticipate and mitigate the financial impact of returns.
By estimating inbound parcels for retailer warehouses, the company’s Returns Forecast AI helps retailers better plan warehouse resources, and reduce processing times and operational costs, the provider of post-purchase experience software said.
Founder and CEO Tobias Buxhoidt said the launch comes at a moment when retailers are dealing with an increasing number of returned parcels.
“With parcelLab’s Returns Forecast AI, we’re giving warehouse managers and logistics specialists the power to turn that challenge into a business opportunity with a tool they can self-configure to visualize patterns and measure percentage errors,” Buxhoidt said.
Meanwhile, researchers in Finland say they have developed an AI model that can interpret human emotions in real time.
“Humans naturally interpret and react to each other’s emotions, a capability that machines fundamentally lack,” Jussi Jokinen, a professor at the University of Jyväskylä who led the research, said in a news release. “This discrepancy can make interactions with computers frustrating, especially if the machine remains oblivious to the user’s emotional state.”
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