ABOUT THIS EPISODE
Brooks Hamilton is a principal at Hamilton AI Strategy Advisors, specializing in strategy consulting, product management, program management, cross-functional team leadership, and go-to-market strategy.
In this episode, Brooks discusses AI Pricing capabilities and upcoming opportunities that benefit pricing optimization, revenue and data management, and AI's ability to enhance productivity in various areas of your business.
Why you have to check out today's podcast:
- Learn the basics of getting started with AI, especially if you are new to using it
- Find out how AI can help pricing people in price optimization, management revenue, and data management
- Learn about AI advancements in email response features, the challenges of using it, and the implications of not implementing it
"I would really look at the opportunity in front of them to delight their customers and delight their employees by simplifying the Excel file management problem that we all wrestle with."
- Brooks Hamilton
Topics Covered:
01:30 - What you can expect from this conversation
02:15 - How is AI pricing helping businesses with no big data sets?
05:32 - The ease of consolidation of customers' names with AI Pricing
07:46 - How much is there to learn with AI pricing?
09:31 - Getting started with AI and navigating it
12:13 - Addressing the issue of AI failing to generate your unique voice [ in the case of writing pricing blogs]
15:06 - Could AI potentially offer a precise solution for the problem presented? [in reference to Mark's case]
16:53 - Going deeper into the analogy that Mark provided regarding the AI's capability to provide a solution
18:55 - AI's capability advancement in terms of pricing
20:43 - Email responses advancement where AI is concerned
22:17 - Two ways to find out your customers' size in terms of revenue even with limited data
24:16 - Challenges and questions with regards to AI pricing
25:46 - What does Brooks' company, Hamilton AI Strategy Advisors do?
27:07 - Some more challenges in addition to what Mark already mentioned and what could be the implications
27:37 - Brook's advice on how organizations should look at and think about AI
38:33 - Brook's best pricing advice
Key Takeaways:
"In the realm of pricing, certainly things like price optimization, and then more broadly revenue management, especially in a B2B realm, where do I go find these opportunities, have really been the domain of sophisticated analytical and optimization packages." - Brooks Hamilton
"Right now I think that the main opportunities are going to be in data management, data cleanup, and then just trying to make your life as a corporate citizen or somebody who interacts with corporate citizens easier in terms of getting faster and more complete on your email responses. It can be that simple to try to just get more productive." - Brooks Hamilton
"It's one that I would advise them [companies] to not take off looking at it and saying, hey, this is just going to be crypto crap all over again. Because there are some real differences. And as McKinsey has pointed out, if you do not begin this journey, it is going to be very challenging later to catch up because unlike other tech revolutions, the pace of change of this one is rapid." - Brooks Hamilton
People/Resources Mentioned:
- OpenAI: https://openai.com
- Outlook: https://www.microsoft.com/en/microsoft-365/outlook/email-and-calendar-software-microsoft-outlook
- McKinsey: https://www.mckinsey.com/
Connect with Brooks Hamilton:
- Email: brooks.hamilton@strategyadvisors.ai
- LinkedIn: https://www.linkedin.com/in/brooks-hamilton-austin/
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: mark@impactpricing.com
