visualfabriq reflections on the 2018 POI Summit in Budapest
Once again, visualfabriq was a proud sponsor of the POI European Summit. This year, it was held in Budapest from the 15th to the 18th of May, and it provided a platform for us to share our compelling vision of a future-fit CPG industry.
A highlight of the event for us was the presentation by visualfabriq’s co-founder Carst Vaartjes on how CPG companies can get started with using AI now, to achieve real ROI on trade promotions. Carst pointed out that when it comes to the adoption of applied AI, the CPG industry is seriously lagging behind.
Low levels of awareness of what AI can do for CPG companies leaves the conversation stuck on efficiencies, while raising perceptions that AI is either threatening or something that is far off.
The true case for applied AI was well demonstrated at the summit by one of our client’s Menno Oosterhof, the Director of Sales and Shopper Marketing at Friesland Campina. As an early adopter of visualfabriq’s Trade Promotion Master™, Menno shared his experiences and lessons from Friesland Campina’s future-proofing AI journey.
visualfabriq has led the way in embedding AI capabilities in our game-changing platform and solutions, and it is important for CPG companies to realise that right now AI can help them to automate 90% of their baselines and 80% of their promotion planning, management and optimisation. There is significant evidence that AI models are consistently twice as accurate as human estimations.
We believe that anyone working in CPG sales and operations will soon have AI assistants augmenting their daily work and performing their routine operational tasks. The companies who will emerge as future leaders in the industry will be those who are first to get to grips with AI and start realising its tremendous benefits.
Download Carst’s presentation: How Artificial Intelligence is Applied to Drive Trade Effectiveness (PDF).