By Paul Damaren, Chief Revenue Officer at RizePoint
Innovative tech solutions – like AI, IoT, blockchain, and machine learning – are making our businesses safer, more compliant, efficient, accurate, and transparent. In fact, these tech solutions are optimizing operations across multiple industries, including foodservice, hospitality, retail, processing, and more. In 2024, more brands will rely on tech to make more informed business decisions, increase safety and quality, and improve the customer experience.
In fact, I anticipate the theme of 2024 will be increased adoption of advanced technologies. Increasingly, brands will rely on tech-powered solutions to drive positive outcomes, increasing sales as well as customer satisfaction, loyalty, and retention. There are numerous – and significant – benefits to adopting technology.
Tech solutions can optimize every facet of business operations.
Tech solutions are an absolute game changer for businesses. Increasingly, brands will rely on tech tools – and the data they deliver – to improve food safety and quality, enhance inventory management, streamline supply chains, optimize delivery routes, increase automation, and more. Tools like AI are incredible – they can complete tasks in seconds, whereas it historically took many hours of human effort to accomplish a fraction of that output. Tech tools unequivocally elevate speed, efficiency, and accuracy.
One of the most valuable things AI can do is analyze massive amounts of data and distill key insights, which can predict future conditions. Predictive AI uses historical data and machine learning algorithms to predict future events, like inventory needs, potential supply chain disruptions, etc. In the coming year, businesses will rely on predictive AI to analyze vast amounts of data and provide actionable insights.
An amazing thing about tech solutions is that they can help brand leaders gain data-driven insights to inform smarter decision-making. This can help organizations become more efficient, save money, and realize many other benefits, as well. For instance, looking at historic sales data can help brand managers make smarter scheduling decisions, purchase more accurate product quantities, stock items that customers want, and discontinue low sellers.
Armed with key insights, brands can elevate their marketing efforts, customizing messages to better resonate with priority populations. They can also use data to anticipate customer preferences, personalize promotions, and make recommendations to up-sell consumers.
Technology can also help organizations automate tasks, which can be helpful as many industries continue to face labor shortages. Automation can streamline work and reduce redundant tasks to help businesses accomplish more – even when they’re short-staffed. The use of robotics is expected to grow, with 63% of US businesses expected to invest in robotics and automation in the next three years. Brands like Chipotle have already started using robots to automate tasks like assembling guests’ meals, saving time and boosting efficiencies. Companies can use automation for tasks like these, as well as marketing, customer relations, and more, which will be a hot trend for the new year.
And in industries like processing and manufacturing, tools like AI can increase production, improving safety, quality, compliance, reliability, energy efficiency and output.
Tech is elevating safety and quality across industries.
Amplifying safety and quality will be paramount in 2024, as businesses rely on advanced technologies, including AI and IoT, to maintain the highest safety and quality standards. For instance, foodservice businesses will, increasingly, use smart refrigerators that immediately alert employees when temperatures rise above safe levels, to prevent food spoilage. Bluetooth thermometers will similarly report unsafe temps that could result in a potential food safety breach.
Tech tools will also help businesses understand and meet regulatory compliance. Last year, many brands took proactive efforts to monitor regulatory changes and implement protocols to ensure compliance and mitigate risks, a trend that’s predicted to continue next year.
Among increased competition, the customer experience will be essential.
Brands are wisely using tech solutions to improve customer engagement. For instance,tech solutions provide information around customers’ previous buying history, preferences, and habits. Armed with this information, brands can meet (and exceed) customers’ expectations.
When brands focus on customer service innovation – and personalizing customer experiences, offerings, and recommendations – it can significantly boost sales, as well as customer satisfaction, relationships, loyalty, and retention.
In the coming year, personalization will be essential, as brands use AI-driven chatbots, virtual assistants, and recommendation engines to provide more customized guest experiences. These tools will customize recommendations for products and services that meet guests’ individual preferences, and can quickly answer customers’ questions, provide product information, and troubleshoot problems to improve the brand experience. Technology will help brands connect with customers on a deeper level – and that will be so valuable in 2024.
Customers want convenience, and today’s innovations can deliver around this effort. In the new year, more brands will feature a one-button checkout experience using stored payment details, as well as more tech-enabled, contactless solutions, including mobile ordering and payment, QR codes, and self-serve kiosks.
Tech-powered solutions will improve supply chain transparency and resilience
Supply chain disruptions persist, so it’s essential for brands to ensure the steady flow (and safety!) of products. In 2024, brands will leverage data analytics and real-time tracking to anticipate and mitigate supply chain disruptions. Blockchain technology, in particular, will play a pivotal role in this effort.
Additionally, tech is dramatically improving traceabilityacross the supply chain, helping to boost the safety and quality of products through every step of their journey. This trend is driven by heightened consumer demand for enhanced traceability, as well as tech advancements for monitoring and compliance.
Tech tools like AI are expected to drive innovation and transformation across multiple industries in 2024 (and beyond). Tech tools will help improve the customer experience, enhance decision-making, automate tasks, and much more. Tech tools will transform the way we do business in the coming year, and any company that isn’t embracing this trend risks falling behind.
For more information about how RizePoint’s solutions can help your organization strengthen your food safety, quality, and compliance programs, let’s talk.