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Well, hello and thank you all 
again so much for tuning into 

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another episode of the 
Professional Pricing Society 

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podcast. 
My name is Terrence and today's 

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discussion. 
We have an amazing duo with us 

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tackling the conversation about 
utilizing artificial 

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intelligence with their upcoming
workshop at our fall conference 

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in Las Vegas this year in 
October. 

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They're they're speaking session
is titled Stopping the quoting 

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madness. 
Use AI. 

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We have Brooks Hamilton and 
Lydia D Liiello. 

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Brooks Hamilton is the founder 
of Hamilton AI strategy 

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advisors, which is an awesome 
base consultancy specializing in

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crafting AI strategies for 
Fortune global 1000 companies, 

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family owned businesses and high
growth startups. 

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And we have Lydia De Leelo 
Leelo, CEO and Founder of 

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Capital Pricing Consultants. 
With more than 25 years of 

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business leadership, supply 
chain and global pricing 

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expertise, she delivers 
exceptional results through 

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strategy, process and 
technology. 

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How are we doing today? 
Really. 

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Well, Terrence, how about you? 
Doing very well such a pleasure 

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to have you all on the podcast 
once again. 

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We've had you on in previous 
years. 

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And so it's a pleasure to be 
able to speak with you, Lydia 

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and you Brooks as well. 
I want to go ahead and just dive

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into this conversation because 
it's, it's ahead of our 

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conference and, and the topic is
kind of based on artificial 

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intelligence. 
And obviously this is one of the

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kind of buzzwords. 
It's not a new concept, but it 

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is starting to feel like AI is 
taking off the ground with more 

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and more force behind it. 
Regarding your upcoming speaking

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session, what what do you 
foresee participants to get out 

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of this session that you all 
think they'll be able to apply 

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even as soon as the following 
week of this conference? 

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We're really excited about 
demonstrating for participants 

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how they can go ahead and use AI
techniques and tools in their 

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jobs immediately. 
This is going to be a hands on 

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session, so we're not talking 
about history or theory, but 

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we're talking about what they 
are going to be using and how 

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they can use these techniques 
right away. 

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I think it's especially fun 
about this is they're going to 

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get to practice a variety of 
skills. 

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Usually in pricing matters. 
We talk about the analytics and 

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the data, which is going to be 
part of it. 

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But we also are going to get to 
talk about things like how do we

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make other parts of our lives 
easier that are stress inducing.

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Like, I've got to go write that 
letter to send to my customers 

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in order to talk them through 
the price increase that's 

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coming. 
And maybe even worse, what are 

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the talking points that I use as
I go talk to my sales team about

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why we're going to have to push 
through this price increase? 

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So we're really going to walk 
through a wide gamut of 

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activities and ways that they 
can make their lives less 

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stressful and easier using the 
tools around them. 

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OK, good, good. 
Sounds exciting. 

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And especially for myself, you 
know, you one of the earlier 

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things you mentioned is that 
it's hands on and that's, you 

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know, half of the fun being able
to apply things, you know, 

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within the actual session 
itself. 

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If you don't mind me asking, how
did you all kind of come up with

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this idea or this this concept 
to you know, to do this session?

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Well, Brooks and I had had 
started talking about ways to to

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combine AI and pricing together 
and realized that there was a 

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huge gap in terms of everyone is
bombarded in the news by AI, but

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how do you really use it most 
especially from a pricing 

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standpoint? 
What are the, the techniques and

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the tips that you can implement 
immediately to make your job 

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faster and easier so that 
participants are spending their 

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time focused on analysis and not
on, on all of the rote parts of 

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the job, which are so painful. 
And, and so Brooks and I have 

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both been in the pricing space a
long time and realizing those 

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pain points and that there's an 
easy way to address that. 

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It is really the genesis that 
that started this conversation. 

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That's good. 
That's good. 

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OK. 
And, and you know, just kind of 

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glancing over the, the total 
landscape of AI and then 

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companies utilizing AI type of 
tools, you know, what do you see

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in terms of business adoption 
when it comes to AI technologies

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and its products? 
The adoption has been pretty 

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fascinating to watch and we in 
November of 22, we had the 

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moment of ChatGPT came out and 
turned everybody's heads around.

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But that didn't mean that there 
were products which immediately 

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fit against the type of tasks 
that pricing teams engage in. 

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There are certainly the data 
security questions, but in 

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addition to that, there's the 
matter of how the pricing 

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process itself is modeled within
these tools. 

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So what we are finding is the 
set of tools that are available 

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are really just now coming to 
market. 

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But we have seen some excellent 
tool usage for ways in which to 

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drive sales, like enabling the 
RFP process as well as finding 

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how to drive additional sales 
among current accounts and then 

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save money on inventory and have
more efficient cash usage, as 

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well as making a lot of the rote
tasks that we have to engage in 

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when moving data from 1 system 
to Excel to another system a lot

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faster. 
So those are the areas where 

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we're beginning to see adoption 
is sales, marketing, supply 

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chain. 
And now I think there's going to

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be a lot of opportunity to see 
those same technologies applied 

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to pricing both in terms of 
strategic contracts as well as 

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items like how do I identify 
where my areas of opportunity 

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are and profiling my customers 
that were not necessarily 

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available as well as inexpensive
in the past, but are 

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increasingly so. 
So lots of opportunity and as 

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far as I can see, this is all 
just beginning in the industrial

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economy. 
Interesting. 

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Yeah, I mean, a plethora of 
opportunities. 

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Usually when I talk with 
individuals about AI, one of the

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first things I mentioned is the 
the efficiency, you know, 

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speeding up the process of big 
data, you know, and that entire 

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process can just be simplify 
just regarding the efficiency of

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whatever AI tool that they're 
using for that. 

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But like you said previously, 
you know, it's, it's starting to

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open up more sales opportunity 
and that'll be super interesting

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to hear you all talk about as 
well. 

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Because I view AI as something 
that is kind of it's, it's not 

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new, but it is taken off the 
ground. 

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And so I feel like we are seeing
it's kind of early stages as a 

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especially as it pertains to 
pricing and the whole, the whole

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pricing industry as a, as a 
whole. 

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And So what tasks are best 
suited for AI adoption? 

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So some of the things that that 
we've talked about Terrence and 

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and that we'll be going through 
in the session are we're really 

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going to focus on, on managing 
RFP's request for proposal and 

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the tasks specifically that take
all of the time like product 

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matching. 
Because when you don't have 

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consistency of data, right, 
where do pricing people spend 

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hundreds and hundreds of hours 
things like product matching 

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because the data is not 
complete, because there's a 

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space, because somebody omitted 
a digit. 

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All of those things that we all 
have grappled with all of these 

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years. 
So we're going to look at at 

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things like the product matching
as well as look at tasks where 

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we say, hey, maybe this is 
something you don't want to 

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apply AI to so that folks can 
walk away with an understanding 

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of where does AI fit and where 
should we leave it alone. 

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So for example, if you're 
handling a situation with a 

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customer where you've got an 
angry customer and this is 

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customer relationship 
management, you really don't 

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want to leave that to AI. 
You want a person involved in 

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that if you're looking at data 
matching, if you are looking at 

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data sorting, if you are looking
at providing back data sets with

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kick outs, meaning it runs a set
of data and tells you, hey, 

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these don't look quite right. 
Do you want to have a look at 

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these before we make any 
adjustment? 

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AI is great at that. 
But if you're talking about 

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customer specific relationship 
building, then you definitely 

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want a human as part of that 
loop. 

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And so each of those pieces is 
something we're going to delve 

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into as part of the workshop. 
You know, they're trying to 

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humanize like automated messages
and it's kind of the similar in 

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the similar context you keep 
sometimes just easier and 

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quicker to get the job done when
there's a human involved. 

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And so that that'll be also 
super interesting to hear you 

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guys talk about in this, in this
upcoming speaking session 

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regarding AI expectations, you 
know, how much time in savings 

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can we kind of expect regarding 
the quoting process in the realm

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of pricing? 
Yeah. 

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So if we think about quoting, 
there's some really neat 

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advances that have been made 
there. 

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Number of firms have looked into
how to take the emails, phone 

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calls and images, PDFs, all of 
those things that we typically 

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get in inside sales or a 
customer sale service Rep role 

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in that represent an order. 
And it takes some time to 

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translate, find the right parts,
match the IDs and make sure that

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you have the right number of 
colors that they wanted, all 

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that good stuff. 
That's that takes time. 

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But what we've seen is these 
organizations have been able to 

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reduce the order creation 
process by about 90%, which is 

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enormous. 
And also the impact of that is 

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there are fewer errors. 
And when you combine those 

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things that you're the first one
to respond and your quote 

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doesn't have errors in it, 
chances are your win rate goes 

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up. 
Maybe not a lot, but definitely 

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some things are going to be won 
and lost just depending upon how

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quickly and accurately you're 
able to come back to the 

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prospective customer. 
This is such an interesting 

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topic to me in particular. 
That's cool. 

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Regarding AI expectations, you 
know, when it comes to 

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profitability, in your opinion, 
what do you see the overall 

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impact of AI adoption on the on 
the industry? 

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Profitability, overall impact, I
should say. 

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Yeah, I think that's to some 
extent the jury is still out on 

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this. 
But maybe let me explain why. 

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There's a lot of activity going 
on at the stage of pilots and 

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early roll outs, but those 
results haven't necessarily been

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widely shared. 
So we we see some some great 

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activity. 
We know that there are 

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substantial changes going on 
within the cost basis of 

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organizations as well as sales 
velocity. 

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And I think as the next 12 
months unfold, we'll begin 

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hearing about just how 
substantial the returns on those

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projects have been. 
One of the neat things that we 

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see about this this realm is the
returns do tend to be I think 

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higher than typical SAS product 
type returns. 

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Also, we note that a lot of 
these projects, definitely not 

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all, but a lot of these projects
can also be implemented more 

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quickly or the footprint that it
takes in the organization is 

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lower, which leads a lot of 
opportunity to really go 

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experiment and pilot some of 
these and see which work for the

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organization and which they want
to pass on for now. 

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And I think this is also a case 
where because Brooks, to your 

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point about cost reductions are 
happening at the same point in 

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time, that sales velocity is 
increasing. 

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And along with that, sales 
velocity is also, in my opinion,

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from what I've seen so far, a 
likelihood that you are going to

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achieve higher price points 
because now your data is more 

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accurate, more specific and you 
know more about your customer 

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because your people, your 
pricing folks are spending their

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time on analysis, not on data 
crunching to get to that data 

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set to analyze. 
And so I think there's going to 

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be an extra lift there that 
really hasn't been calculated. 

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And I'm going to be very excited
to see how that really does play

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out from a profitability 
standpoint for companies. 

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Yeah, that's a good point. 
There's more time spent 

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studying, you know, the customer
versus debt data sorting and 

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everything else that can be 
simplified and essentially 

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expedited with an AI tool. 
So that's, that's good. 

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You all talked about what the 
participants are likely going to

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get out of your session. 
Is there anything in particular 

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you hope that they leave with, 
or anything you're most excited 

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for them to to leave with? 
Yes, I think that they are going

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to leave with a feeling of, I 
think that they are going to 

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leave the session feeling 
empowered by the information 

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they know, much more comfortable
with the tools that they have 

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available to them. 
As well as, we hope, brimming 

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with enthusiasm to see where 
they can apply these, not just 

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in the areas that we pointed out
during the session, but all the 

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hundreds of other areas where 
this can be applied. 

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I would add to that a sense of 
confidence because I've talked 

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to so many people who say, well,
I don't know if that sessions 

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right for me because maybe it's 
too technical. 

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And I keep reassuring people 
it's not. 

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The technical piece isn't 
challenging. 

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We've laid this out so easily. 
And so step by step, it's very 

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much a primer, Terence. 
So literally you can walk in the

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doors going, I don't even know 
what AI stands for. 

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And when you finish the course 
the next week, you're going to 

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be able to go out and get on 
ChatGPT and say, can you write 

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me a letter to my customer for a
price increase and be confident 

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in your approach to do that. 
And, and not have questions 

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about is it safe and how do I do
this and what do I do? 

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So I'm, I'm really excited to be
able to share that level of, of 

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knowledge and understanding with
the participants and, and help 

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them build that confidence. 
That's good. 

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This is further caters to the 
excitement for this for this 

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session with you guys are going 
to be spearheading in the fall. 

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The the dates are October 22nd 
through the 25th in Las Vegas. 

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Now I'll leave you all with this
question as well for for both of

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you. 
Where can listeners go to to 

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learn more about yourself? 
It's a normal about maybe the 

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company you you're with, what 
you stand for. 

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And of course they can always go
to pricingsociety.com/PPS Vegas 

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24 to register for the 
conference. 

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But are there any additional 
resources or websites or or you 

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know areas where people can go 
to to learn more about you all? 

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So for Lydia, you can go to 
capitalpricingconsultants.com or

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you can e-mail me directly at 
lydia@capitalpricingconsultants.com.

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For me, our website is Strategy 
Advisors dot AI and easily 

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enough to reach out to me is 
Brooks dot Hamilton at Strategy 

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Advisors dot AI. 
All right. 

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Straightforward to the point. 
Awesome. 

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We want to thank you both for 
your time today. 

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We're super excited to have you 
both also in the conference 

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coming up. 
And for those of those of you of

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you who are interested in 
learning more, feel free to 

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visit their resources, their 
websites and to learn more about

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their workshop on our website at
Prices Society dot com. 

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Until then, we will see you all 
in Vegas. 

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You guys have a good one. 
Bye bye.