Cognitive AI: Unleashing the Potential for Capability Growth in Revenue Management

In the ever-evolving landscape of technology, this year has emerged as a pivotal moment for artificial intelligence. From the early days, there has been an electric buzz surrounding the rise of new AI advancements. You may have come across terms like generative AI, ChatGPT, and GPT-4. But what about cognitive AI? Does it ring a bell or perhaps it's the very reason you found yourself here, reading this article?

Let's ponder an intriguing concept that simplifies this notion. In essence, cognitive computing systems and cognitive analytics have permeated every facet of our daily existence, often without us even noticing. Take, for instance, the way Netflix suggests movies based on your past preferences and viewing habits. It's just one of the many ways cognitive technology influences our lives without us realizing it.

According to an alternate source, and for further reading, you can find it here, Cognitive Computing revolves around optimizing decision-making by offering valuable information and insights, rather than making the decisions for you. The ultimate choice still rests in your hands.

Now, when we combine AI with this equation, that's when things start to get fascinating. Think of AI as a catalyst, a problem-solving powerhouse that operates with unparalleled speed. Picture this: you have at your disposal a cutting-edge tool infused with these remarkable technologies, designed specifically for pricing in your industry. It could be a virtual intelligent assistant or an innovative tool leveraging the prowess of cognitive AI. Imagine the potential of harnessing such a tool, empowering you with actionable insights to surpass your competitors, all powered by state-of-the-art advancements.

Imagine having access to something that goes beyond your computer, available at your fingertips wherever you go. A tool that seamlessly integrates with popular messaging apps like WhatsApp, Teams, or any chat app of your preference. How convenient would that be? Well, that's precisely what Revenue.AI brings to the table. It goes beyond the realm of a typical virtual assistant or chatbot, offering a unique blend of functionalities, and more.

If you're eager to explore how Revenue.AI can enhance capabilities in areas such as sales, marketing, key account management, and RGM roles, you've arrived at the perfect destination. Stay right here, and let's delve into the transformative possibilities that Revenue.AI has to offer.

Available industry solutions

We have recently launched an enhanced version of our platform which is now equipped with an AI-driven RAI copilot. You can get a glimpse of the cognitive brain here. The platform is designed to support CPG (FMCG) companies as well as companies in the Commodity Trading industry, Retail, and various other industries. You can watch the live demo launch event on demand, here, on YouTube, if you’d like, too.

For the CPG industry solution, this means a significant change in decision-making. Revenue management, finance, and general management teams now have the tools to make faster, more accurate, and more efficient comparisons with competitors. This enhanced performance can take your business to the next level.

When it comes to the commodity trading solution and overall journey, the new platform is addressing all its key aspects. It minimizes human errors and maximizes the focus on price and quality. Imagine reducing the time spent on manual tasks by more than 90%. Who would say no to this, right? Additionally, with accessible data and valuable insights, teams can now effectively communicate value and seize opportunities at the right moment.

You might be concerned about the time and resources required for implementing and using the platform. However, it may not be as daunting as you think. The initial setup could take around 40 hours, but once it's done, you'll be on autopilot. Searching for solutions and gaining insights will become much easier and faster. You can simply use Copilot to ask any questions or request specific outputs. The answers will be presented in a natural language format, providing a conversational experience. It's almost like having an instant assistant by your side, ready to complete tasks for you. See the example below.

How will I learn how to use this cognitive AI platform?

The platform is designed to be user-friendly and intuitive, requiring a very minimal learning curve. Anyone familiar with using Google can easily navigate and search within the platform as well.

Managing content and accessing relevant information is also straightforward and hassle-free. Users have simple controls to handle content and access permissions.

To ensure quick adaptation and maximum utilization of the platform, we have a dedicated knowledge hub within the platform itself. The hub offers a range of materials tailored to users at different stages of their Revenue Growth Management (RGM) journey. Whether you're just starting out or already have an established RGM strategy, you'll find the resources you need to accelerate your progress.

Our cognitive AI engine houses a comprehensive knowledge base that covers various aspects, including:

• the essential requirements for implementation,
• key pillars of RGM such as pricing, promotion, portfolio, and mix framework, as well as
• best practices for Pricing and RGM strategies.

Additionally, we offer demo walkthroughs that are especially helpful for users who are new to the platform. These walkthroughs provide step-by-step guidance and familiarize users with the platform's features and functionalities.

When it comes to intuitive Googling around the platform, possibilities are vast. Starting from basic searches,?such as learning about what RAI can do for you, using the Copilot makes things easy for you, as shown below:?

Then, of course, highly complex searches are also possible, such as the one below, where we got a report output, via the Copilot search, in a matter of seconds:?

In addition to the platform's intuitive self-exploration capabilities, we have deployment playbooks available that specifically address the implementation process for companies utilizing multiple algorithms. These playbooks serve as valuable resources for businesses across a range of industries, including FMCG, retail, commodities, and more. They provide step-by-step guidance on how to effectively deploy our RAI Copilot & Intelligent Assistant, making it easier for employees to train themselves and leverage its capabilities.

Our guided training journeys enable users to effortlessly ask questions and search for both internal and external information. The output is almost instant and provides recommendations for the next steps. This means employees can access the information they need without requiring additional assistance or exerting extra effort.

One-stop RGM shop

In our pursuit of enhancing Revenue Growth Management (RGM) capabilities, we aim to elevate your experience by leveraging augmented RGM capabilities. This means transitioning from labor-intensive manual processes, such as Excel-based simulations, to performing those tasks within seconds using our powerful cognitive engine. By harnessing the potential of cognitive AI, all the manual work associated with RGM would be eliminated.

With the automation of time-consuming tasks, you and your team can shift your focus toward strategy, decision-making, and collaborative efforts. The cognitive AI engine will proactively propose optimal solutions, ensuring timely and accurate recommendations. This streamlined approach allows you to make more informed decisions, optimize your RGM strategies, and drive overall growth without being burdened by tedious manual work.

Previously, we mentioned how Revenue.AI enhances capabilities for sales, marketing, key account management, RGM roles, and more. We are committed to continuously expanding our solution and addressing additional capability challenges in the future.

Combining different technologies and making them easily accessible to all can be a complex task. However, with our cognitive AI and search Copilot, we have made it possible to achieve end-to-end visibility of the entire business cycle. From data input to business execution, insights, recommendations, future planning, and performance monitoring, our engine enables users to access multiple platforms that work with RGM. It also facilitates the understanding of various reports, providing a comprehensive view of the business.

Let's imagine how your day could look with the Revenue.AI platform from now on. You would wake up, open the platform, and check the alerts you have received on your phone, all while enjoying your first cup of coffee. Then you'll notice that the Copilot alerted you that the growth margin is declining due to raw material inflation.

Here's an example of what such an alert might look like:

In search of a quick solution to secure the gross margin, you would access the Revenue.AI platform on your laptop and delve into the data. Alternatively, you could delegate the task to a team member. Using the Copilot, you would navigate to the precision pricing module required for the solution.

With the help of Cognitive AI, the Precision Pricing Module would simulate the best possible scenarios. Through careful analysis and simulation, you can evaluate and select the solution that best fits the current situation. Once the solution is chosen, the next step is to report on the progress. Copilot can assist with this as well.

You can effortlessly send an update to your supervisor via a newsletter or any other suitable communication channel.

There, you already solved it.

Now, how to embrace the change?

Indeed, changing mindsets, especially in large and established organizations, can be a challenging task. The rapid pace of technological advancements further complicates the process. As humans, we often prefer to stay within our comfort zones.

However, embracing new technologies is inevitable, and it presents an opportunity to overcome challenges more effectively.

As we mentioned earlier, a relevant mantra for this topic is: "Measure if you transform and transform if you measure."

To facilitate the adoption and AI transformation, Revenue.AI offers a range of services, including:

1. Data and organization transformation capabilities enablement: This service ensures that your data and analytics infrastructure is set up in a way that maximizes its value for your company.
2. Reengineering your organizational structure through reaching business agility using SAFe (Scaled Agile Framework).

With the right strategies in place, you can also achieve capability growth and stay ahead of the competition.?

If this sounds intriguing, we'd love to meet you and discuss this in detail, so go ahead and book your demo today ??: