A New Look on the Food Processing Industry with AI
By Elizabeth Consolante - December 20, 2018
With the increasing amount of technology in our daily lives, customers have rising expectations in terms of the unique experience they are seeking. Considerable pressure is put on sales team to spur revenue and increase margin growth all while providing a personalized experience to current and future clients. The way business is conducted in the food processing industry is being redefined and rejuvenated with the rise of smart factory technologies, cross-channel selling and smooth, effortless experiences.
Artificial Intelligence and machine learning ought to be the path to follow in a near future to take full advantage of the predictive insights derived from the collected data and ensure that an optimal experience is delivered to customers.
In an article written for manufacturing.net, Matt Bennett, Director, Strategic Consulting for PROS Inc., put forth four benefits that can be associated with the implementation of AI and machine-learning algorithms and there are the following:
- Predict churn with existing accounts
- Personalize product and price offers
- Uncover inconsistent purchase patterns with outlier algorithms
- Identify cross-sell opportunities through connection and consistency algorithms
AI will represent a crucial investment for food manufacturer who wish to see an increasing number of sales and a significant revenue growth. Other than making operations more fruitful, efficient and lucrative, it'll also contribute to providing a frictionless experience to clients.
To read more on the aforementioned benefits stated by Matt Bennett and his approach to AI in the industry, click here.