Food Startups Build an Appetite for Artificial Intelligence

Food Startups Build an Appetite for Artificial Intelligence

The market and use of artificial intelligence (AI) is expected to grow exponentially over the next 18 to 24 months across all industries. Although it is already being used to make processes efficient in factories, logistics and information systems, most big opportunities have not yet been tapped.

Majority of industries are playing catch up to the recent technological advancements made possible due to AI. Food and beverage industry is also leveraging AI for profound transformations such as to improve food consumption, precision farming, personalized nutrition services, optimize operations, and deliver a better customer experience. For example, there are apps now, which act as a personal diet coach. Users have to simply log what they have eaten in order to get personalized nutritional advice and also to estimate the amount of calorie intake. An innovative approach to logistics with the use of AI technology can change the course of food delivery by scheduling deliveries, managing vendors and inventory, or paying bills; thus making every step in the workflow efficient and fast.

Predictive analytics and machine learning together can solve many issues and can make food delivery more efficient by forecasting preferred meals by location, or hour of the day, game seasons etc. AI in conjunction with data analysis techniques can increase efficiency, broaden the reach, make advance recommendations, help with new product development and improve consumer engagement. Companies are using machine learning algorithms to determine user’s ideal diet, along with speed and image recognition to estimate nutritional content of a meal from a photo; which in turn can help consumers save time while logging their meals. This will encourage users to quickly enter more data, and is more likely to track their behavior and analyze the invaluable data. It can help plan weekly meals according to dietary preferences, demonstrate cooking tutorials, supervise the pantry, organize shopping lists, and arrange grocery delivery.

AI, food databases and analysis combined together can help in chalking out tailor made nutritional patterns, and companies can compete to be more transparent, traceable and trustworthy in their delivery of healthier, more sustainable and more delicious foods. Technological advances have made on-demand food ordering possible and the industry is pivoting towards more innovative approaches in logistics to meet and exceed customer expectations seamlessly across multiple channels. Today vast quantities of data is generated in the food industry from numerous resources which includes data from point-of-sale transactions, staffing needs, restaurant reservations, delivery service records, managing vendors, inventory and paying bills. In the field of AI, more data equals better learning, which is precisely why startups are focusing on that. In fact, predictive analytics is an essential business technology and is critical to success in competitive markets. As a result, artificial intelligence is making its way into the food and beverage industry and it is vitally important for companies to consider how AI can work for them or risk being left behind. AI can help the industry tap into consumer sentiment to offer new products and services before the consumers even realize they need it.

We are excited to see how all this innovation results in personalized and wider choices at lower prices for consumers.

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