Automated product pricing engages customers and retains profits margins for retailers
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IBM AI technology has been used to power incredibly wide ranging innovations from this virtual marketing advisor that uses natural language, to this legal research assistant. Now, Ermes Group, has partnered with IBM to automatically calculate the lowest possible prices that still maintain a margin for the company. Ermes, the largest retailer in Cyprus, had previously calculated this price manually for each item and store. The company is now using Watson to fix the optimal price. The retail giant can now automatically determine whether a specific item in a given showcase needs to be updated to move stagnant sales. IBM…
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