How companies are using AI to set individual prices

How companies are using AI to set individual prices

Companies often reward loyal customers with perks like coupons, exclusive deals or features other customers don't get. But a new pricing practice is scrambling that logic. Instead of a predictable reward for loyalty, some customers are finding their price has quietly shifted, and they have no way of knowing why.  It’s called algorithmic pricing. It uses artificial intelligence to track a user’s data to determine what they’ll pay. According to Ne…

Hearst, Dow Jones, Condé Nast and NJ.com are setting subscription renewal prices using dynamic pricing, often using AI and referred to as "personalized offers" (Hanaa' Tameez/Nieman Lab)

Hanaa' Tameez / Nieman Lab: Hearst, Dow Jones, Condé Nast and NJ.com are setting subscription renewal prices using dynamic pricing, often using AI and referred to as “personalized offers”  —  Outlets like Wired, NJ.com, and The Wall Street Journal are setting renewal prices just for you — and being forced to disclose it.

How insurers are using AI to combat customer churn

As more policyholders shop around, insurers are applying AI in many ways to entice them to stay, executives from LexisNexis, Gallagher and Chubb say.