AI & Neuroscience: Revolutionizing Global Pricing

Welcome to the ninth edition of the FutureAI newsletter, where we journey through cutting-edge future trends and delve into compelling AI stories, all designed to supercharge your business!??

I recently had the pleasure of working with Kai-Markus Mueller, an acclaimed neuroscientist and successful entrepreneur! I was amazed by his deep knowledge of Neuroscience and Behavioral Economics, and I had the chance to witness firsthand their remarkable applications in pricing.????

In this edition, we'll explore the intersection of AI with Neuroscience, mainly through Kai's impressive journey and also, our joint efforts to revolutionize global pricing, leveraging these cutting-edge technologies!

I'm also excited to announce a joint survey organized by Valuebizbooster and FutureUP regarding the use of AI in sales and pricing! You can take the survey here.

The Intersection of AI with Neuroscience

Before a few weeks, I had the privilege of co-hosting with Arian Sultan Khan, the latest episode of the prestigious Forecasting Impact, a monthly podcast by the International Institute of Forecasters about Forecasting and AI!

In this episode, we explored the intersection of Neuroscience with Forecasting, Price Optimization, and AI with guest?Kai-Markus Mueller

The podcast delves into Kai’s innovative work, highlighting how brain activity can often predict consumer behavior more accurately than traditional self-reported methods, with success stories such as Starbucks coffee pricing research and Pepsi’s strategy in Turkey.

Kai explains the practical applications of Neuroscience in business and discusses the integration of AI and Pricing with Neuroscience to enhance predictive models.

Discover more about the intersection of AI with Neuroscience!??Read more

Book Review: ”The Invisible Game”??by Kai-Markus Mueller, Gabriele Rehbock

If you want to learn more about Neuroscience and its vast applications in business, pricing, and AI, a great place to start is reading ”The Invisible Game” by Kai-Markus Mueller and Gabriele Rehbock !

This amazing book will help you understand the hidden dynamics behind B2B sales and purchase decisions:

??The “Visible Game” is the fact-based and rational part of our decision-making

??The “Invisible Game” includes all the subconscious and split-second responses that shape our decision-making behind the scenes

Navigating through the realms of Neuroscience & Behavioral Economics and their intersection with Pricing, Marketing, and Predictive AI, the Invisible Game sheds light on many important business aspects, such as:

?The applications of Neuroscience in Pricing and AI

?How we use "decoys" to increase our revenue in sales offers and bundle pricing

?Why the awkward-looking pricing like $99.99 works

?Why a loss matters more than a gain and implications for pricing and value perception

Find out more about the "Invisible Game" and its vast applications in business!??Read more

Unlocking Global Pricing Potential: The Synergy of NeuroPricing Online and AI-Based International Extrapolation

Since this edition is dedicated to AI & Neuroscience, I asked Kai-Markus Mueller to address FutureAI insights readers and touch upon our joint efforts to revolutionize global pricing by leveraging AI & Neuroscience!

"Greetings, readers!

As we stand at the cutting edge of pricing innovation, I'm thrilled to share some exciting developments from Neurensics and FutureUP that promise to revolutionize how businesses approach global pricing strategies. The magic happens when we combine Neurensics' NeuroPricing Online with FutureUP's AI-based international extrapolation, creating a powerful toolkit that brings science and advanced analytics to the forefront of pricing decisions.

NeuroPricing Online: Tapping into the Subconscious

At Neurensics, we've pioneered NeuroPricing Online, a unique approach that delves deep into the subconscious mind of consumers. By utilizing reaction time measurements, we can accurately gauge how customers truly value products, bypassing the biases and inaccuracies of traditional survey methods. This neuroscience-driven technique allows us to uncover genuine willingness to pay, providing insights that are both profound and actionable.

Imagine being able to predict how a customer feels about a product's price without them uttering a single word! That's the power of NeuroPricing. We've successfully applied this method across various industries, from giant brands to tech innovators, ensuring that our clients hit the sweet spot of pricing that maximizes both customer satisfaction and profit margins.

FutureUP's AI-Based International Extrapolation: The Global Dimension

But why stop at understanding local markets when we can take this a step further? Enter FutureUP's AI-based international extrapolation. This cutting-edge technology allows us to extend our pricing insights globally, adapting to diverse market conditions with pinpoint accuracy. By analyzing macroeconomic variables such as inflation, exchange rates, and spending capacities, FutureUP's AI can predict optimal pricing strategies tailored for different regions around the world.

This synergy means that businesses can now navigate the complexities of international markets with ease, ensuring their pricing strategies are not just locally optimized but globally synchronized. Whether you're entering a new market or adjusting prices in response to economic shifts, our combined approach provides a robust framework for making informed, strategic decisions.

Real-World Impact and Future Prospects

The real-world applications of this combined approach are already making waves. For example, our collaboration has enabled a global app to fine-tune its pricing strategy across multiple countries, leading to a significant increase in both market share and profitability. By leveraging the deep insights from NeuroPricing Online and the expansive reach of AI-based extrapolation, we've turned complex pricing challenges into streamlined, data-driven solutions.

Looking ahead, the potential is boundless. As AI continues to evolve and our understanding of consumer neuroscience deepens, we foresee even more sophisticated models that can predict market trends and consumer behavior with unprecedented accuracy. This is just the beginning of a new era in pricing strategy, where science and technology converge to drive business success.

Join Us on This Exciting Journey

I invite you all to stay tuned as we continue to push the boundaries of what's possible in the world of pricing. Together with the brilliant minds at both FutureUP and Neurensics, we're excited to bring these innovations to you, helping businesses thrive in an increasingly complex and interconnected world.

Here's to smarter pricing and a brighter future!

Warm regards,

Kai-Markus Mueller"

You can check our first success story here??

Survey: AI in Sales & Pricing

Valuebizbooster and FutureUP are conducting a quick 10’ survey to see how businesses are leveraging AI in Sales and Pricing?

Take the Survey Now!

AI is present in many discussions and executive agendas, and we’d like to understand better if it’s creating real value or it’s only fuzz.

Why Participate???

??You can contribute to a better understanding of AI applications in sales & pricing

??You can help shape future innovations in business strategies

??You get the chance to see how your peers are using AI to stay ahead

We appreciate your time and look forward to hearing your valuable insights!

We will be sharing the key insights of the survey via our FutureAI insights newsletter upon conclusion!

Take the Survey Now!

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I am George Boretos, founder of FutureUP

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