By Marcel Koks, industry and solution strategy director, food and beverage, Infor
The market for artificial intelligence (AI) in the food and beverage (F&B) sector is expected to reach a staggering $29.94bn by 2026, according to Mordor Intelligence. Already in use by pioneering businesses across the industry, AI is impacting all aspects of the food supply chain, driving smarter, faster decisions and underpinning that all-important competitive advantage.
Most organisations have heard of AI, but there still exists widespread uncertainty as to how AI technologies can be applied and the benefits companies can reap. Put simply, AI has the potential to optimise all areas of food manufacturing, facilitating smart, industry-specific applications to improve every aspect of the supply chain and drive revenue growth.
Many organisations regard AI as the machinery and technology used to carry out complex tasks that previously required human thought to complete. It is important to note that the capabilities of AI go even further than that, enabling new approaches to data analysis that simply are not achievable manually. This is where AI comes into its own, with the ability to consider an inordinate number of data values, parameters, what-if scenarios, and other contributing factors to produce accurate and timely recommendations for almost every aspect of the food supply chain. Ultimately, this provides a competitive advantage that would be impossible to replicate without the application of AI technologies.
In the F&B industry, AI comprises several technologies ranging from robotics to machine learning. With more F&B players coming into the game and changing consumer expectations, every player will inevitably need to differentiate themselves by innovation through technology. Where are we seeing AI in action across the industry and what impact is it driving?
Read the full article here.
