Generative AI is bringing significant advantages to various industries and company departments. In the field of Food and Beverage, adopting generative AI improves operational and production efficiency and more.
Let’s look at the opportunities emerging in the sector and technologies, like Infor, that help teams and companies to take advantage of them.
The challenges facing Food and Beverage companies
Food and Beverage companies face many challenges. In addition to consumer fragility, the adverse weather conditions of the last few months have further exacerbated the situation: drought in the south and the delayed arrival of summer in the north have significantly impacted crop harvests.
Companies are also having a tough time finding qualified staff. Workforce shortages limit production volumes, leading companies to invest in automation to boost productivity. Moreover, European regulatory authorities now require companies to declare their sustainability activities and performance levels. By 2026, the European Union will mandate the “Digital Product Passport” to ensure the transparent environmental footprint and traceability of products.
In this scenario, generative AI may be a game changer for the F&B industry.
The Opportunities of Generative Artificial Intelligence for Food Companies
The use of Generative AI in food and beverage companies is spreading fast worldwide and becoming increasingly integral to their growth.
In the food and beverage industry, the global artificial intelligence market reached 8 billion dollars in 2023, and it is expected to grow to 214.62 billion dollars by 2033, with a compound annual growth rate (CAGR) of 39% from 2024 to 2033*.
From customised nutritional solutions to sustainable production processes, generative artificial intelligence models are bringing efficiency and sustainability to the entire food supply chain. Let’s examine the opportunities for F&B companies in more detail.
Supply chain optimisation: artificial intelligence can generate more accurate forecasts, identify risks concerning suppliers, recognise unusual behavioural models, set appropriate stock levels and provide detailed financial analysis.
Introduction of new products: Gen AI can help create products in line with consumer expectations by using information on market trends, customer requirements and go-to-market strategies.
Recipe formulation: by drawing from extensive market research and consumer preferences, Gen AI can suggest recipes and mixes of ingredients that align with brand identity and individual nutritional requirements. In this way companies can develop innovative and personalised recipes.
Efficiency: activities that once took hours can now be completed in minutes, saving precious time in research and data analysis. Information becomes more accessible, avoiding pointless efforts and enabling companies to focus on what really matters: business.
Sustainability: generative AI can help manufacturers measure their ecological footprint and build the necessary trust for consumers to make safe and informed decisions.
However, to make the most of these opportunities, it is essential that businesses fully understand how these tools can support them in company processes.
Infor and GEN AI for Food and Beverage
Infor has always provided food and beverage manufacturers with the best tools, enabling them to stay flexible while facing current challenges and preparing for future ones.
Infor has recently presented 4 new Gen AI functions integrated into the Food&Beverage CloudSuite, making them a natural part of everyday work and providing users with the following features:
- Automatic product descriptions and translations: a well-written description can influence product purchase. Infor GenAI simplifies this process by automatically generating product descriptions, drawing from information in the Food & Beverage CloudSuite. By selecting an item and clicking on the “create description” button, users can generate the text and relative translation they need, and even modify it.
- Automatic project brief creation: Infor GenAI automates project brief generation, instantly collecting the necessary information to do so and thus helping to boost productivity.
- Tools for simplifying sustainability and ESG compliance: ESG reporting provides dashboards that enable the rapid generation of graphic metrics, ready for auditing. Integrated models based on the ESG reporting framework automatically populate the tool with necessary requirements. Companies have access to environmental metrics with just a few clicks.
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- Packaging composition: Using product and packaging data, Infor allows the display of the type of material and CO2 based on quantified single-pallet weight.
- New finance and services functionalities: The new features of Infor help companies rapidly integrate acquisitions, harmonise processes and obtain more performance information. This includes:
- Improved processing of suppliers’ invoices: this new functionality simplifies the processing of invoices and boosts efficiency through automatic invoice recognition, the handling of exceptions and real-time tracking.
- Facilitated handling of several legal entities: improves efficiency in managing several legal entities in a single team of shared services. The automatic execution of daily activities reduces the manual work load and can ensure optimal resource use in managing operations between entities.
4. Tailored user experience for food and beverage industry professionals: the renewed design improves the readability and visibility of data, overall improving the user’s experience. This update also introduces three new customisable workspaces for purchase managers, auditors and customer service managers, simplifying their workflows and making necessary information available as soon as they log in.
Thanks to the integration of GenAI technology in the F&B CloudSuite and enhanced sustainability reporting capacity, Infor is helping organisations adopt a more efficient, sustainable and technologically advanced business model.
However, the integration of generative artificial intelligence in company processes must not be underestimated. Companies must cooperate with competent and reliable partners to ensure data is used safely and compliantly.
Atlantic for the F&B industry
At Atlantic Technologies, we are passionate about helping companies explore the potential of generative artificial intelligence. We have been an Infor partner since 2017, and our services transcend the mere implementation of this technology. We accompany you through the entire innovation process, suggesting the best strategy based on company priorities and the most suitable adoption procedure for individual requirements. We coherently and strategically integrate solutions in each client’s application scenario, actively supporting the digital transition. Once we finalise the project, we stay by your side to work on its continuous improvement.
Are you ready to discover how generative AI can transform your business in the food and beverage industry? Contact us!
*AI in Food and Beverages Market Size, Share, and Trends 2024 to 2033, Precedence Research, 2023.
