Pricing in the Age of AI (MIT Press)
How is AI transforming pricing decisions, and what opportunities, challenges, and risks does this transformation bring? This book traces the evolution of pricing from traditional approaches to today's AI-powered strategies, showing how big data, machine learning, and generative AI are reshaping the way organizations set prices. Pricing decisions can now be adjusted in real time, personalized to individual consumers, and optimized at an unprecedented scale. The book examines the behavioral principles underlying modern pricing, explores how AI enables managers to automate and enhance pricing decisions, and discusses the ethical, legal, and societal challenges raised by these innovations, including concerns about competition, consumer protection, and discrimination. Ultimately, the book argues that AI is not merely changing how prices are set—it is redefining the role of pricing itself, requiring organizations to balance profitability, fairness, and consumer trust.
Maxime Cohen
Maxime Cohen is the Scale AI Chair Professor and the Academic Director of the Bensadoun School of Retail Management at McGill University. He is the Chief of AI Strategy of the CIUSSS West-Central Montreal and the Scientific Director of the non-profit MyOpenCourt.org. He was a Visiting Professor of Operations Management and a Shubik Fellow at Yale School of Management. He is also a Scientific Advisor in AI at IVADO Labs, and is actively advising corporations, retailers, and startups on topics related to pricing, retail, and data science. He has collaborated with many companies including Google, Microsoft, Meta, Uber, Waze, Amazon, Expedia, Spotify, Couche-Tard/Circle K, Loblaws, and Canadian Tire and he serves on the advisory board of several startups. His research and teaching have received 40+ awards, including Poets&Quants Best 40-Under-40 MBA Professors, RETHINK Retail’s Top Retail Influencers, MSOM Young Scholar Prize, and Best OM Paper in Management Science. Finally, he serves on the editorial board of several leading Operations journals (DE at M&SOM and POM, AE at Management Science, OR, and MBR).