08-Jun-2021 | Market Research Store
As per the anticipated statistics released by the U.S. Department of Agriculture, around 30 to 40 percent of the prepared and packaged food in the country is being wasted and dumped in landfills. Food wastage has become one of the heated topics of discussion among different demographics of society. The dumping of perishable foods in landfills is the leading cause of greenhouse gases emission in the atmosphere. To combat this grave problem, a startup company, known as Wasteless, has thought of introducing an Artificial Intelligence-based system at retail stores to promote sales of packaged food items.
The company has developed an AI-powered system that can detect the perishable food items present in a retail store and automatically slash the price of the item when it remains on the shelves for a longer period. The range of discounted prices depends upon the validity of food items. The lesser the validity of a product, the more the discount offered on the actual value of that product. The organization has been working on this system since 2016 and is planning to begin the commercial trials of this AI-based price manipulation system at the chain of worldwide established Metro stores. Initially, these systems will be employed in the stores located in Poland and steadily, the company will set up its valuable system at all the Metro stores.
Wasteless claims that by the installation of its vital monitoring system, the problem of food wastage can be restrained by at least 40 percent. However, the long-term goal of the company is to prevent food wastage by 80 percent in the next few years. Food wastage is a burgeoning issue worldwide and to curb this problem, several other companies and organizations are presenting different solutions. Google’s parent company, Alphabet, has also launched an exclusive Project Delta to look for some rigorous solution to this concern.