Dynamic pricing with ML and AI sounds attractive: the model considers demand, competitors, inventory, seasonality, purchase price, and suggests an optimal price. But if you start with the model before the data and process, you end up with a black box that gives confident recommendations with a weak evidence base.
ML needs at least several types of reliable history: how prices changed, how sales changed, which promotions were running at the time, what stock levels were, what competitors did, what the margin was, which products were substitutes, and where managers manually overrode an automated recommendation. Without this data, the model will not guess better than a rule set, but explaining its decision will be harder.
The mature path is usually this: first monitoring and matching, then rules and human-in-the-loop approvals, then accumulating history, and only after that ML hypotheses. AI is useful not as a magic price button, but as a layer that helps find patterns, test exceptions, suggest scenarios, and explain where a rule stopped working.