Artificial Intelligence and Machine Learning Solutions offer a wide range of options for many industries to optimize and automate processes, save costs and make fewer human errors possible. The food and beverage industry is not an exception where it can be used in restaurants, bars, and cafes as well as in food production. Food Processing and Handling (FP&H) has caught the attention of these technologies to help solve different problems and implement regulations in the food industry. As long as food manufacturers are concerned with more stringent food safety regulations, they need to be more transparent about the food supply chain path. Here AI helps to control every stage of this cycle in food manufacturing: it makes predictions about cost and stock management and monitors the path of products from where they are produced and, ultimately, to where customers get it, ensuring transparency.
Artificial Intelligence is benefiting to various industries including healthcare, education and manufacturing. But what is Artificial intelligence (AI)? In Layman language, a simulator of human intelligence, which makes the decision after analyzing various data utilizing a collection of different intelligent technologies including machine and deep learning, analytics and computer vision. The fourth industrial revolution is employing AI to enhance its overall efficiency. The technology is not only helping to reduce manufacturing cost as well as it is improving productivity and quality. Manufacturing is a capital-intensive process, and once a plant is a set-up, replacing, removing or renovating is exorbitantly expensive. New machines improve performance; reduce redundancies, while improving overall quality metrics. AI is proving an alternative route to achieve all this and at extremely competitive price points. Instead of now replacing machines, manufacturers are adding AI/ML tools to pre-inspect raw materials identify defects, perform quality evaluations, and a lot more.
Artificial Intelligence is catching the attention of businesses across many disciplines and sectors with Food Processing and Handling (FP&H) being one of them. Today, the FP&H industry is capped at a whopping $100 billion and will continue to grow at a CAGR of 5% at least till 2021 says, McKinsey. AI is impacting the FP&H industry both directly and indirectly. For example, Indirectly, it helps farmers with weather prediction, which will help farmers to produce high-quality raw material for food processing companies, helping them to save bucks on sorting a product. AI also helps transportation companies in reducing the shipping cost, making food processing companies pay lesser for transportation.
People have become picky eaters. Our ancestors ate whatever they could forage, but modern day Homo Sapiens expect gourmet meals at street food prices on demand. To meet fickle consumer tastes, food and beverage (F&B) companies are looking to artificial intelligence to help them scale new products and stay profitable. Whether they are hacking logistics, human resources, compliance, or customer experience, these smart brands recognize the ways AI can impact how fast-moving consumer goods (FMCG) are produced, packaged, stored, distributed, marketed, and consumed. Artificial intelligence and machine learning are fundamentally changing the consumer packaged goods (CPG) and food and beverage industries.