How AI can transform the way CPG companies conduct trade promotions

Over the last decade, the CPG industry has undergone a massive change, with businesses increasingly turning towards advanced technologies such as AI and ML for operational optimization, increasing brand awareness and enhancing product visibility. A survey conducted by the Promotion Optimization Institute (POI), detailed in the POI 2019 TPx and Retail Execution Report, revealed that 16.7 per cent (a 5.7 per cent increase as opposed to 2018) of consumer packaged goods (CPG) manufacturers have invested in artificial intelligence solutions to get an edge over their competitors. The fact that a majority of companies are actively working on incorporating AI-based tools indicates a growing cognizance of this technology’s transformative power.