Artificial intelligence (AI) has become commonplace both in our personal lives and in the operations of many highly recognized companies - with 29% of companies using some form of AI in their everyday work flow. At Journey Foods, we are using a variety of AI strategies to help food companies launch better products.
As artificial intelligence becomes more prominent in companies across the United States and around the world, it’s interesting to note how leading companies are incorporating AI strategies into their everyday work flow. A recent article published by Forbes discusses the “Top Ten Ways Enterprises are Getting Results from AI Strategies.”
With a goal of optimizing the way we feed our global population (8 billion), Journey Foods must be innovative in its optimization approach.
By concentrating on the benefits of artificial intelligence (AI), we position ourselves on the front end of the curve.
Today, more companies are implementing various forms of AI to achieve a competitive advantage.
A recently published Forbes article discusses the “Ten Ways Enterprises Are Getting Results From AI Strategies [1]”. The article lists some of the umbrella advantages of AI applications:
- Improved customer experiences
- Reduced costs
- Stabilization of revenue AND increasing revenue.
Diving deeper into this article, the top three ways to use AI that caught my eye (and are the most intertwined with our methods at Journey Foods) are:
- Detecting and acting on inconsistent supplier quality levels and deliveries – One of the biggest concerns in food production today is product traceability. Consumers want to know where their food is coming from, and companies are employing AI for tasks such as supply chain analysis to maintain precise data records [2].
- The majority of CEOs and Chief Human Resource Officers globally plan to use more AI within three years; many top companies are still in the process of implementing AI into their everyday workflow, yet Journey Foods was founded on the principles of AI to give our clients a competitive edge over other food companies.
- AI is making it possible to create propensity models by persona. Ultimately, we all know that the goal of every company is to make their customers happy. Our clients come to us with an idea of the kind of person that they want to develop a product for, a diverse range of people that covers consumer patterns from plant-based to gluten-free diets (and everything in between). Predicting the kinds of foods these different personas prefer will immediately reduce the time and costs of developing a new product – and that makes our clients very happy.
Take a moment to think about how much AI has exploded in the past three years.
Without realizing it, we are interacting with AI every single day – from asking Siri for directions to the advertisements for that new pillow you googled popping up on your social media feeds.
“The International Data Corporation predicts that spending on AI/ML will reach $97.9 billion in 2023”
International Data Corporation
The International Data Corporation predicts that spending on AI/ML will reach $97.9 billion in 2023 [3], so it’s not unrealistic to predict that the majority of companies and industries will be using some form of AI within the next three years. At Journey Foods we are using AI to launch better foods today, and who knows what we’ll be using AI for tomorrow!
Written by Liz Satter
Edited by Riana Lynn
