Disrupting Pricing with AI: Insights from Steven Forth

<p><strong>Steven Forth</strong> is a Partner in <a href= "https://www.ibbaka.com/">Ibbaka</a>, a strategic pricing advisory firm. He was CEO of <a href= "https://www.leveragepoint.com/">LeveragePoint Innovations Inc.</a>, a SaaS business designed to help companies create and capture value. Steven is what I consider one of the great pricing thinkers in our industry.</p> <p>In this episode, Steven talks about AI and how it is impacting the world of pricing. He also shares some of the improvements we could expect from AI infrastructures in the near future.</p> <p> </p> <p><strong>Why you have to check out today’s podcast:</strong></p> <ul> <li>Find out how the emergence of AI improves and disrupts the pricing profession and the trade as a whole</li> <li>Learn how to extract the best and most comprehensive solutions from AI tools</li> <li>Get an idea on how the “big 3” of cloud services might price for their AI services in considering their current pricing models</li> </ul> <p><strong> </strong></p> <p align="center"><strong>“Many billions of dollars being invested in AI last year, next year, this year. The overall investment is going to be probably in the neighborhood of $300 billion in 2023. So, if we were investing that much money, we better get some value back. And the companies investing that money need to be able to price that value they're creating.”</strong></p> <p align="center">– <em>Steven Forth</em></p> <p><strong> </strong></p> <p><strong>Topics Covered:</strong></p> <p>02:10 – The questions that need to be answered about the impacts of AI in pricing</p> <p>04:06 – Examples of existing value proposition that AI is improving</p> <p>07:10 – Examples of existing value proposition that AI is disrupting</p> <p>10:44 – Is the emergence of AI a challenge to the pricing profession?</p> <p>12:08 – Can open AI soon generate value models that are better than experts create?</p> <p>15:58 – Why and how large language models such as <a href= "https://openai.com/blog/chatgpt/">Chat GPT</a> are taking over</p> <p>18:06