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How is AI Revamping CPG?

By CIOReview | Tuesday, June 30, 2020

The ever-evolving and disruptive environment of the CPG business make it imperative for companies to embrace modern technologies to stay relevant; therefore, the advancements in AI promises the massive potential for powerful business outcomes.

Fremont, CA: In the age of AI (artificial intelligence) and the IoT (Internet of Things), enterprise applications are evolving, and CPG (consumer packaged goods) companies are adapting and moving to new applications. Henceforth, there will be an increase in efficiency, improvement in visibility, and as well as in the businesses that are embracing the latest emerging technologies.

The utilization of AI and ML (machine learning) is seen in a wide range of ERP (enterprise resource planning) applications and manufacturing software to content management, collaboration, and user productivity. Currently, numerous organizations are considering AI and machine learning. It is expected that AI will be the disrupting influence that will alter the entire industry throughout the next decade. Thus, many CPG companies are starting to identify the best way to leverage AI today—which is still the early stage for many.

For instance, businesses are declaring an AI-trained voice with Oracle Digital Assistant, which means enterprise customers can utilize voice commands to communicate with their enterprise applications.

A company leaping into Industry 4.0, which manufactures off-highway wheels, tires, assemblies, and undercarriage products, has also shifted its core business processes to Oracle Cloud applications for finance, supply chain, and manufacturing.

The prime objective is to build a smart factory by automating manual processes and using sensors to enhance inventory insights. The second phase will introduce this automation to more production areas. The final stage will include machine monitoring on the shop floor so that the company can better understand the health of its machines and do predictive maintenance.

Leveraging AI in a factory environment is just one example; leveraging more data throughout a large enterprise continues. In many cases, the objective is to enhance communication and bring transparency to a business, all while improving efficiencies.

See aslo: Top Artificial Intelligence Companies