ASIA December 2019
 
Kerry Trendspotter™ speeds development of market-ready F&B products
 
A collaboration between Kerry Group and IBM has introduced a predictive artificial intelligence (AI) tool, Kerry Trendspotter™, hosted on IBM public cloud, to forecast future trends in food and beverage and guide the development of winning consumer-preferred products.
Nielsen research showed that rapidly shifting consumer preferences contribute to the failure of 85% of new food and beverage products within 2 years of launching.
Designed to reduce the risk of costly failures and increase the probability of success, Kerry Trendspotter enables organisations to use large scale unstructured data to understand consumer behavior and anticipate future consumer needs.
Built on the IBM public cloud, the solution enables real-time analysis of food-related social media content by digesting vast amounts of textual data quickly and securely through a number of Watson portfolio services such as Watson Natural Language Understanding as well as Watson Studio models. IBM Cloud infrastructure powers the processing, automatically reading and processing millions of consumer generated posts on social media - extracting food items and cataloguing food-related combinations then used to predict the trending food, ingredient and flavour candidates likely to go mainstream in the near future.
By identifying and detecting food trends at their genesis, Kerry’s chefs, food scientists and flavour experts can collaborate with key customers to craft differentiated yet relevant solutions as well as launch first-to-market products with less lead time, capitalising on trends before their competitors via Kerry’s integrated sourcing and development capabilities.
“Through the Kerry Trendspotter tool, our objective is to support our APMEA customers with a platform designed to read and analyse millions of data points in order to extract and surface F&B items that resonate with consumers and are likely to become breakout trends. The tool uses custom AI and Natural Language Processing in combination with predictive algorithms to generate results which are more accurate and remove subjectivity from decision making. All this is in a fraction of the time it would take to do primary research, thus reducing customers product development time,” said Avinash Lal, Market Research & Insights Director, Kerry APMEA.
“With AI-tools such as Kerry Trendspotter™, our aim is to help our strategic customers to focus on those emerging Food & Beverage trends which have a greater chance of success in the markets that they operate,” said Parth Patel, Vice President, Marketing and Strategic Planning, Kerry APMEA.
“Delay in innovation or speed to market can be the difference between winning big and losing market share. IBM Watson’s ability to analyse data from Kerry’s various sources and predict the consumer trends to increase profitability while reducing wastage is a huge differentiator for food and beverage brands as well as the whole food industry. Through the use of Watson on IBM public cloud, the brands get greater insights into consumer trends and respond to surge in demand with speed,” said Guna Chellappan, General Manager, Cloud and Cognitive Software, IBM Singapore. He added, “Running on the IBM public cloud offers significant technical advantages and will enable enterprises to modernise and build big data business applications on the cloud without jeopardising security and control.”
As a global leader in taste and nutrition for almost half a century, Kerry is uniquely positioned to take the next leap both as an industry insider and leader, bringing AI technology along with unique insights enhanced by the collective sensory science expertise of Kerry’s dedicated team of researchers in tandem with Kerry’s other industry leading primary research capabilities to make targeted and on-trend recommendations to its key customers.
To learn more about Kerry Trendspotter, visit Kerry.com/Trendspotter. To learn about Kerry’s other insight platforms and tools, visit kerry.com/insights/innovation.
 
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