Artificial intelligence is helping companies identify new product opportunities and iterate quickly to get them closer to perfection in a number of different ways. What follows are some of the most exciting examples of how artificial intelligence is being used at different stages of the new product development process, and different approaches to deploying the technology. Jordi Torrent, Open Innovation Manager at Damm, a multi-national brewery based in Barcelona with activities in other sectors including logistics and distribution, shared how AI is being utilized in the beer industry. British start-up IntelligentX developed a line of beers using AI. They worked with the machine learning firm Intelligent Layer and the creative agency 10X.

NetBase, the industry leader in social media analytics, announced it will merge with Quid, a leader in AI driven text analytics. The combined company is the next generation consumer and market intelligence platform. The platform will deliver contextual insights that reveal business trends from across all forms of structured and unstructured data. The two companies will join forces under their new collective name, NetBase Quid. In today's age of information overload, NetBase Quid will deliver businesses an unprecedented solution that is faster, more accurate and actionable and with access to billions of indexed resources -- from social media posts, consumer reviews, product reviews, news articles to business filings, to patent applications, and forums – which can be aggregated, analyzed, and visualized in order to discover consumer and market insights.