The global food and beverage (F&B) manufacturing industry is a behemoth, valued at 6111.1 billion dollars as of 2020 and expected to grow at a CAGR of 7% for 2021 to reach an estimated value of $7527.5 billion in 2023. Even though COVID-19 created some pretty significant supply chain issues for the F&B market it still grew in an incredibly trying year. The industry is essential to our way of life and digital technologies are essential to the survival and growth of the industry.
Artificial Intelligence has the potential to unlock complete value chain transformation for F&B manufacturers. Mckinsey reports that, “50% of [F&B manufacturing] companies that embrace AI over the next 5-7 years have the potential to double their cash flow.”
The team at Elutions says, why wait that long?
F&B Manufacturers have never been in a better position then they are now to begin rapidly digitizing their operations with AI to reduce time to market, implement automation in feedstock to increase speed and reduce yield, to reduce resource consumption and achieve Net-Zero goals and so much more. In February 2021 Solve the Unsolvable will be exploring the applications of Artificial Intelligence in the Food and Beverage Manufacturing sector.
How can AI deliver on its promises within F&B? How can AI help corporations achieve their Net-Zero goals with increased speed? How can AI combat COVID-19 in the F&B Manufacturing sector and maintain food safety goals?
Stay tuned to this month’s series to have all of these questions and more answered.
Maestro AI is proven to deliver transformational benefit for the F&B manufacturing industry across the entire value chain at unprecedented speed to value. To learn more about Maestro AI and Elutions, contact us.
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