Decision-making based on Artificial Intelligence is on its way to being one of the primary sources of information for the food and beverage industry in the United States and a large part of developed and developing countries.
Artificial Intelligence has revolutionized how the CPG (consumer goods packaged) industry analyzes the data and is used to obtain the best return on your investments when approaching the consumer.
CPG companies must adopt the use of Artificial Intelligence to boost revenue growth through innovation, better forecasts, and better store execution to thrive in today’s market.
By 2020 and much of this new decade, businesses will also be equipped with large information banks that will support them in the administration of the Category Management and can identify the areas of opportunity by adding value to the business.
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On the other hand, companies dedicated to the production of food and beverages for mass consumption will be strengthened in their interior, creating teams capable of generating updated data that can solve any hypotheses that may arise.
With the use of Artificial Intelligence, they can create strategies that can be translated as action plans that become the driver of the company. Understanding the demand is crucial for the growth of the company, and knowing how the consumer perceives a product is essential to understand the market demand.
The valuable thing about syndicated data and transformed into some indicator is that it has no feelings. This will, therefore, be very useful for making objective decisions.
Packaging, for example, will continue to be a trend and will keep with innovation due to the analysis of data obtained by artificial intelligence. Companies may design according to the “real” needs and tastes of customers and consumers.
Consumers will raise their expectations at all levels. They will want convenient and personalized products and services, speed, as well as applications capable of interpreting what they want with high precision.
As more CPG companies adopt AI, their tools will become smarter, and by extension, their users, which will result in growth and efficiency amid a turbulent market. The future belongs to companies that combine the promise of Big Data and AI with the power of human intelligence.
Training and the creation of teams that can interpret this data and turn it into better products and services will be necessary. The trend is already there, you add or add yourself.