Supermarkets are places of competition. The aisles are lined with thousands of products vying for attention and money, so how do new players stand out in the crowd? The answer may lie with artificial intelligence.
Supermarkets are places of competition. The aisles are lined with thousands of products vying for attention and money, so how do new players stand out in the crowd?
It is an $88 billion market research industry. Traditionally, this would involve hand surveys of a small group of people, but the results are not fool proof – often only looking at trends in the near future, which can be a problem when launching new products can take one to two years.
But companies like AI Palette are looking to use new technologies like artificial intelligence to transform the market.
“The challenge that is always there is that consumer preferences are changing faster than ever, and they cannot understand and predict what will be popular a year or two from now,” Somsubhra Gan Choudhuri, Co-founder and CEO, AI Palette, told CNBC Tech: The Edge.
So how does AI Palette use large language models to predict trends? Watch the video above to find out.