What is the role of AI in dynamic pricing in e-commerce platforms?
- AI analyzes customer behavior, competitor pricing, and market trends to adjust prices in real-time.
- AI has no role in dynamic pricing.
- AI relies on outdated pricing models.
- AI suggests a single fixed price for all products.
AI plays a crucial role in dynamic pricing by continuously analyzing customer behavior, competitor pricing, and market trends. It allows e-commerce platforms to optimize prices to maximize revenue and remain competitive.
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