4th March, 2020
Airlines are developing machine learning answers to a number of questions, and one of them relates to dynamic pricing of ancillary offers.
"It is something that's coming. There is a lot of work going on at a theoretical level. Lot of mathematicians are building algorithms and some of the revenue management specialists are involved in that effort. This is something we are in early days of. We aren't seeing anyone doing true dynamic pricing yet. At best what they are doing is using market inputs to adjust filed fares," shared Ian Tunnacliffe (He spoke to Ai during the previous edition of #MegaEvent held in St. Petersburg, Florida a couple of months ago).
For more, watch the video featuring Ian Tunnacliffe.