increase font size
Report co-author, US-based RaboResearch senior analyst Thomas Bailey.
Could smaller foodservice operators take advantage of the benefits of artificial intelligence (AI)?
A new report from Rabobank suggests exactly that.
In its Foodservice Update for the first quarter of 2024, the bank states AI is becoming more accessible to foodservice operators of all shapes and sizes, with software-as-a-service (SaaS) providers and an increased availability of data are facilitating this shift.
“Data is the essential raw material for AI, but until recently, the foodservice industry lagged behind other sectors in terms of digitalization,” the report reads.
Yet, since 2020, consumers have shifted towards digital channels for both information and transactions.
“Companies that have digitalized their contact with consumers through kiosks and loyalty apps… now possess proprietary data, as do delivery platforms,” it states.
Report co-author, US-based RaboResearch senior analyst Thomas Bailey says current AI applications in foodservice are primarily focused on increasing efficiency, reducing staff workload, optimising marketing strategies, and improving customer experience
“Customer interactions are also being transformed through AI, with highly performing chatbots and telephone assistance software improving the customer experience and operational efficiency,” Bailey says.
“AI software can be used to improve text and images, personalise customer interaction, understand brand perception, and implement more focused pricing strategies,” he says.
However, Bailey is quick to point out that AI is a “work in progress” and “far from perfect”.
“The adoption of AI also carries potential risks, including customer alienation and technology-related issues,” he says.
The report points out that it is a necessity to define the purpose of incorporating AI and its subsequent actions.
A hundred primary schools across New Zealand are now better resourced to teach their students about food and farming after winning ‘George the Farmer’ book sets in a recent competition run by rural lender, Rabobank.
Confusion seems to reign in the supermarkets, especially in China where consumers are faced with multiple messages about products and have little time to work out if the messages are correct.
There are some positive signs coming from China regarding dairy, according to Stefan Vogel, general manager of Rabobank Research for Australasia.
Growers can now access information from the Foundation for Arable Research (FAR) within seconds, thanks to generative AI technology.
Rabobank New Zealand has appointed the bank's global chief compliance officer Angelique Meddeler to its board.
A critically threatened endemic freshwater fish found only in Canterbury has been discovered at a Craigmore Sustainables farm near Timaru.
A hundred primary schools across New Zealand are now better resourced to teach their students about food and farming after winning ‘George the Farmer’ book sets in a recent competition run by rural lender, Rabobank.
Kiwifruit growers are celebrating a trifecta of industry milestones next month.
TB differential slaughter levy rates are changing with dairy animals paying $12.25/head, an increase of 75c from next month.
Taranaki's Zero Possum project has entered a new phase, featuring a high-tech farmland barrier and a few squirts of mayo.
The recent Tractor and Machinery Association (TAMA) conference in Wellington was signalling cautious optimism on the back of rising milk and store cattle prices and drops in interest rates.
OPINION: How do you get people to stop drinking milk and switch to foods like fruit, vegetables, nuts and grains?
OPINION: It seems that our friends at Greenpeace are never satisfied.
