Democratization of AI Will Speed Up the Digital Transformation
Jerry Abiog is Co-founder and CMO of Standard Insights, and he shared his thoughts on the future of food and beverage and digital transformation.
“So, what I see going on in the future in the world of the food and beverage industry is the acceleration of digital transformation as the world comes out of COVID. No. 1, democratization of AI. Now, AI tools are readily available to companies large and small. No. 2, increased labor costs. In the near future, we’re probably going to see a more than doubling of the minimum wage. No. 3, hedging against inflation. The U.S. government has recently printed over $3 trillion to combat the negative effects of COVID and, for increased competition, this could be locally, nationally or internationally.
And, now, I think businesses have come to realize the importance of being data-driven to help their businesses drive both top and bottom-line growth. And the only way to do this is to embrace digital transformation.
Ultimately, if the virus doesn’t get you, your competitors will. So, embrace digital transformation.”
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