🍌 AI reduces food waste in stores
An AI algorithm can keep track of when the price of items that are about to expire should be reduced, and by how much. This reducing wastage and increasing profits for stores.
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The Dutch grocery chain Hoogvliet is to start using machine learning in 71 stores to reduce the amount of food in the store that has to be thrown away because the date has expired, The Times of Israel reports.
The AI keeps track of the date of all fresh products in the store and gradually lowers the price of the product when it starts to expire.
According to the company Wasteless, which is behind the solution, the AI should be able to reduce food waste by 50-90 percent.
The figures come from tests that Wasteless has done in other stores, and they also show that the stores halve the financial loss it means to have to throw away food, compared to today.
Now the stores normally lower the price drastically just before the item has to be thrown away. This means that they lose a lot of money if it is sold and that there is a big risk that no one will buy the item in time.
Wasteless AI can lower the price in small steps over a longer period of time to maximize the chance that the item will actually be sold while allowing the store to charge a higher price.
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