AI and Pricing Analytics
Walter R. Paczkowski · 2026
Artificial intelligence (AI) is now ubiquitous in our society and economy. It cannot be ignored or escaped; it is everywhere and publicized daily, both positively and negatively. On the positive side, we are told that it helps our daily lives by providing personalized services and enhanced safety. For example, we use AI-powered devices such as Alexa and Siri, smartwatches, smartglasses, and, not to be overlooked, smartphones. For safety, we have smart devices for our homes and cars that constantly monitor performance and provide alerts when something goes wrong. There are many other AI applications (or apps ), but the point is clear. On the negative side, there is rising concern about the current generation of students using applications such as ChatGPT, which became very popular and controversial in a very short time, to write their papers and reports, rather than doing this themselves. The implication is that they are not learning to write and think. Writing has cognitive advantages that are not being developed. The long-term effects on this generation, and on our society, are unclear at this time. Because of this, some, such as Marcus (2024) , argue for regulating AI, but this has drastic policy implications beyond the scope of this book.