The Fast Moving Consumer Goods (FMCG) industry is always looking at maintaining profitability in a market which is very competitive when it comes to pricing. The industry moved to digital media, not as a result of innovation but in a bid to survive. Their next course is the use of Artificial Intelligence as AI steps in to help the marketers of these goods evaluate the supply chain and to find areas wherein costs can be further reduced and it also also help in enhancing productivity.
HUL seeks to get details like who visited the grocery store over the last three months and what product they may buy on their next visit using AI software Jarvis. Spread across 600,000 villages and 10 million outlets, general trade will continue to remain big in the next 10 years, HUL said in a presentation on its website on 6 June where it outlined Project Maxima, which is focused on precision marketing at scale. Under this project, HUL has achieved targeted marketing within a range of 100m of a grocery shop. The company can geofence this for distributed marketing and offering. The Indian arm of Unilever Plc will use predictive analytics, cloud technology, Internet of Things and artificial intelligence to achieve this.
World’s first AI platform for FMCG Product Innovation, AI Palette creates product concepts which are in tandem with the personality of the brand and also its current product portfolio. This is achieved by gathering insights from digital conversations and clubbing them with company data to address the unfulfilled needs of consumers.
Marico is banking on automation, AI and ML to grow not only its own business but also that of its distributors. Automation has helped their distributors reduce the inventory days from around 4-5 to just a day.They have also been able to lower the sales staff strength to 20 and no longer feel the need for having data entry operators. Marico also uses AI to seek patterns and predict behaviours. Moreover, their exclusive launches with e-commerce portals enable the “predictive and prescriptive analytics” task by using the real-time insights provided by online companies.
Nestle has been on the top of its AI game, especially with the introduction of a new tool called ‘Cookie Coach’, a virtual bot launched by Nestle USA which answers queries about their Toll House chocolate chip cookie recipe. Ruth, the AI-powered coach is in fact a multimodal virtual assistant using autonomous animation.
The Colgate Smart Electric Toothbrush E1 is equipped with Artificial Intelligence and pairs with Apple’s ResearchKit to crowdsource toothbrushing data for better and faster innovation, according to the company. This brush has been designed with the help of dentists, and contains real-time sensors and AI algorithms to detect the effectiveness of brushing in 16 zones of the human mouth.
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