How Artificial Intelligence (AI) for Enhancing Customer Engagements is Drastically Improving Business Operations

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Feb. 17, 2023 /PRNewswire/ -- The market for Artificial Intelligence (AI) applications for Business Operations including Food ordering Customer Engagements has been steadily growing over the past few years and is expected to continue for the foreseeable future. Artificial Intelligence is a process of making intelligent machines that work and react like humans. The aim is to teach machines to think intelligently, as humans do. The machines have been doing what they were told to do till today. But with AI, machines will think and behave like human beings. The food processing industry is leveraging AI to enhance various offerings, optimize operations, and deliver better customer experience. Changes in consumer demands toward preferring fast, affordable, and easily accessible food options have transformed the food and beverage industry. Market leaders are leveraging advanced technologies, such as artificial intelligence and machine learning to scale operations and help companies stay relevant in a dynamic market environment. A report from Mordor Intelligence projected that the Artificial intelligence in the food and beverage market was valued at USD 3.07 billion in the 2023 and is expected to reach USD 29.94 billion in 2028 at a CAGR of over 45.77% during the forecast period. The report said: "AI actively gained prominence over the last few years, with many companies actively investing in exploring the technology potential in the industry. This emerging AI technology is helping F&B companies with supply chain management through logistics, predictive analytics, and transparency." Active companies in the markets this week include ShiftPixy, Inc. (NASDAQ:PIXY), C3 AI (NYSE:AI), Upstart (NASDAQ:UPST), SoundHound AI, Inc. (NASDAQ:SOUN), Shopify Inc. (NYSE:SHOP).