Shortfacts - September 2019


AI for automated price optimization
GK Software offers retailers a new AI-based solution for dynamic pricing, which is also marketed by SAP under the name SAP Dynamic Pricing by GK. Based on the AIR platform developed by GK, the solution enables retailers to optimize their omni-channel pricing strategies in real time based on available customer and market data. AIR stands for Artificial Intelligence for Retail and is an AI-based platform that provides retailers with customized processes. In addition to dynamic pricing, this also includes solutions for personalization and fraud detection, for example. The new dynamic pricing solution calculates the market-driven price for each product in the range in real time. Based on this information, retailers can automatically adjust their prices to constantly changing market situations and conditions on an ongoing basis. The solution enables the implementation of different pricing strategies such as increasing sales or earnings.