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🛠 30+ AI Tools F&B Leaders Can Use To Forge Growth
Implementing AI in the F&B industry is a challenge. Taking the time to find the right strategy and tools is essential.
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This week, we're peeling back another layer of the AI phenomenon in the food and beverage industry. Amid rapid growth in generative AI, companies are reevaluating how this technology can catalyze their operations. Yet there are inherent challenges for the F&B industry, and we’ll explore them today. We’ll conclude by introducing you to over 30 companies that are developing AI innovations for F&B
In The News: Edible coffee cups, upcycled ice cream, cell-ag assembly, and more
Trending with Gen Z: fighting food waste, one TikTok at a time
Innovation Deep Dive: Exploring AI Tools For F&B
Now is a good time to take (another) look at AI
The Challenges Of Implementing AI In F&B
3 High-ROI AI Tools to Consider (+30 more)
📰 In The News
A curation of our favorite F&B innovation stories from the week. Can be read in less than a 🧻 break.
Cupfee, a Bulgarian startup, is producing edible coffee cups. The plant-based cups are designed to reduce the high environmental damage caused by disposable coffee cups.
Opportunities for F&B products that target seniors in Europe. Europe's population of over 50s will reach nearly 150 million by 2050, yet only 0.0005% of new products target the over 55s. More healthy aging innovation is needed according to a FoodNavigator panel.
Panera Brands will appoint José Alberto Dueñas as new CEO from July 1st. Dueñas will have his hands full preparing for the group’s upcoming IPO.
Ice cream made with upcycled ingredients launched by Salt & Straw. Flavors include Day-Old Bread Pudding & Chocolate Ganache and Salted Caramel and Okara cupcakes. 38,000 pounds of food was saved to make the products.
The Japan Association For Cellular Agriculture (JACA) held its first industry promotion event on May 22nd. 150 stakeholders, including corporates and government officials, attended to discuss the future of cell-ag in Japan.
British chippies battered by soaring potatoes costs. The cost of a bag of potatoes has more than doubled in the last 12 months as inflation bites UK grocers. British chip shops have been forced to consider closing their businesses.
📱Trending With Gen-Z
What social media is telling us about Gen-Z’s cravings! Can be enjoyed during an 🛗 ride.
A chef who shares her secrets for reducing food waste is going viral on TikTok. @itschefalison’s videos teaching people how to reduce their food waste have attracted millions of views to date. Keep it up, Alison 🚀
🚀 Innovation Deep Dive: Exploring AI Tools For F&B
Weekly deep dive into an F&B trend. Can be read in less than a 🚋 ride.
While artificial intelligence (AI) is nothing new, the boom in so-called generative AI in the past year has triggered a new wave of excitement about it. Not least of all amongst businesses, who are now taking a fresh look at their strategy for deploying the tech.
Food and beverage companies are doing the same, and the good news is: there’s plenty of AI-powered tools offering enhancements across the value chain. At the same time, the F&B industry faces unique challenges regarding AI which must be considered when exploring the technology. We’ll look at all this in-depth today, and introduce some of the innovative companies offering AI tools specifically for food and beverage.
Now Is A Good Time To Take (another) Look At AI
F&B companies should give serious thought to how AI could support their businesses. The tech can bring juicy benefits when implemented successfully. What’s more, according to experts, the impact of this technology on how we work and lead our lives is only going to grow bigger. This puts pressure on companies to begin experimenting with and getting a feel for AI today…if not yesterday.
AI already plays a big role in making our personal and work lives better. It underpins virtual assistants like Apple’s Siri and enables Google’s Smart Complete features, including autogenerated subject lines. For F&B too, AI can bring industry-specific benefits across the entire value chain.
But, successfully adopting the technology is much easier said than done.
The Challenges Of Implementing AI In F&B
AI integration in F&B comes with unique hurdles.
📊 Data Dearth - AI thrives on abundant data, yet many F&B firms lag in harvesting AI-compatible information. Establishing a culture of good data practice, streamlining collection, and leveraging data strategies require significant investment in time and resources, making it a slow process for many.
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💰 High Costs - Be it an in-house creation or a vendor solution, AI doesn't come cheap. Considerable initial expenditure is required, ranging from IoT hardware to sophisticated software, often making it an unaffordable proposition for small enterprises. Larger ones may also hesitate, concerned about the ROI, risks involved, and the expenses associated with AI maintenance and employee training.
👩💻 Skills Gap - AI, being highly technical, needs proficient hands, particularly in F&B areas like product development and quality control. The scarcity of such expertise in the sector is another roadblock to AI's potential.
👨🍳 Consumer Concerns - AI's role in F&B often raises eyebrows, especially when personal data, like nutritional preferences, are involved. A growing preference for natural, whole foods amongst consumers may also add to skepticism about AI-created recipes and products.
These obstacles necessitate a cautious approach toward AI adoption in F&B. However, with tech advancements and increasing investor interest, sidelining AI isn't viable either. Therefore, F&B firms should strategically delve into AI, beginning with high ROI solutions such as customer service chatbots, menu recommendations, and trend analysis tools.
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Embarking on the AI Journey in F&B: 3 High-ROI Tools to Consider (+33 more)
Navigating the world of AI can be a bit tricky, so we thought we'd give you a friendly nudge in the right direction. Here are three intriguing tools that are already making a difference in the F&B industry. They also use existing sources of data so can be implemented without requiring you to collect tons of data.
Also, don't forget to take a look at the comprehensive list we've compiled, which you'll find at the end of this email.
1. AI Palette: A Deep Dive into Consumer Trends
Imagine having the ability to sift through billions of data points from various sources like social media, fast-food menus, e-commerce platforms, and recipe sites. Well, AI Palette does just that, helping predict the potential success of different ingredients and flavors. While it doesn't support all languages just yet, it's still pretty nifty in providing unique insights. It's no wonder that big names like Nestle, Cargill, and Danone have given it a go.
2. ChatGPT: An AI partner for Ideation and Execution
ChatGPT is like a helpful assistant, always ready with a relevant text response for any prompt. It's been used for a multitude of tasks, from drafting emails to brainstorming concept designs. Although it can't replace human work and occasionally makes errors, it is expected to advance significantly. Its affordability and utility make it a handy tool for workflow streamlining.
3. ConverseNow: A Chatbot for Your Customer Service Needs
This AI handles drive-thru and phone calls. ConverseNow slots right into standard POS systems and can handle multiple calls at once. This allows food service teams to focus more on food prep and guest service. Although it might find noisy environments challenging, the ConverseNow team is working hard on improving this. Domino’s uses it in more than 750 of its stores.
These are just three tools that could help enhance your F&B business, but ultimately it’s important to take your time and identify if and how AI can work for you.
To help with that, here’s a list of 33 companies that offer AI solutions for the F&B industry:
Don’t see your company? Reach out to us if we missed you and we’ll add you to the list.
That’s all folks
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