For instance, think about the food we waste. With AI and smart labels, we could have more data about our food’s shelf life at home before we throw anything away. Best-before dates could become obsolete. Same for recalls. Labels, our fridges, cellphones, and watches could tell us when a product was recalled without having to rely on the news. The model we have for food recalls to simply throw away everything is plainly obsolete.
In turn, though, the industry use of AI will likely be enhanced as well, knowing that the power of AI will be better understood. Knowing consumers are better equipped to confront higher food prices, grocers will likely use more dynamic pricing. For example, if a product sells, prices go up using digital tags. It’s already happening in many places around the world. Accessible AI could get consumers to appreciate the utility of dynamic pricing in real-time. Things could get interesting.
With the supply chain, same thing. AI can help to predict supply chain disruptions and optimize delivery schedules, and reduce the effect of “shelflation” when a product’s shelf life is compromised by a supply chain issue.With ChatGPT and other emerging chatbot websites, all of us will better understand what lies ahead. The food industry, especially grocers, will likely respond by embracing more technologies and use consumers as active participants. Scary but exciting at the same time.