In an effort to promote the release of “Thousand Miles,” the new music video from The Kid Laroi, and Coca-Cola’s “coke summer music” Snap Inc. unveiled an augmented reality experience.
Consumers’ digital preferences continuously evolve with time and brands are responding with technology to improve the online shopping experience for consumers via a recent tech, virtual try-on.
Lyre’s, a non-alcoholic spirit brand, has teamed up with Amazon Alexa to use technology to help consumers make their favourite cocktails.
Procter & Gamble is reimagining its manufacturing to reduce costs, improve productivity and satisfy consumers.
A recent research by SmartLabel reported that 83% of the consumers are interested to know more about a product than what’s presented on a physical label.
The Saudi Arabian and UAE AgTech business, Red Sea Farms, owns a technology that allows commercial farmers to use low energy and zero freshwater for sustainable climate control.
Kraft Heinz listed three major benefits after its historic tech partnership with Microsoft.
As per the research carried out by Gartner, there are five emerging AI trends that executives should take into account to use and leverage AI responsibly.
Digital marketing enables brands to connect with global audiences however, it has a downside to it too which brands should take care of. ParcelLab presented a research report with YouGov after surveying 1,185 US adult online shoppers, showing how certain marketing emails trigger emotional responses. As per the findings, brands are carelessly sending marketing emails to all of their customers without being relevant to customers’ needs or preferences. 49% of the participants claimed to be irreverently marketed, rendering 88% to act against the brand, 42% to unsubscribe from marketing content, 24% to block the brand’s content, and 22% not to buy again from the brand. The report, The Emotional Shopping Experience, also highlighted factors such as environmental initiatives that drive US consumers to shop. Read more from MediaPost
Digital tools, such as connected packaging, have allowed CPG companies to establish a curated connection with their customers. Not only does it enable companies to build brand-to-customer engagement, but also helps them collect valuable data. CPG companies like Campbell soup and Ferrara’s Keebler have deployed QR codes on their cans to give consumers access to specialised content, featuring recipes and music, while the latter connected consumers to an augmented reality experience via QR codes. The Consumer Brands Association and Alliance created a smartLabel, a QR code-empowered food label, which gives consumers access to information about sustainability indicators. Big CPG giants like Coca-Cola, Kellogg, Hershey, Colgate-Palmolive, and Procter & Gamble have featured the digital label in their packaging. Read more from SmartBrief
Women from all around the globe are stepping up and making their mark in the male-dominated business world. Dr. Saira Siddique is one such entrepreneur and solo founder who has raised $1.8 million in pre-seed funding for her health tech venture titled MedIQ. In the funding round, investors from all across the globe participated, including the USA-based Amaana Capital, Seraph Group, TAJDEED, APPNA, Middle East & Pakistan focused – Cordoba Ventures (CorVCF), and leading health tech investors from Silicon Valley. Pakistan’s first integrated B2B virtual care platform, MedIQ, provides a comprehensive network of online pharmacies, online laboratory services, a customisable plug-and-play technology stack, and nursing staff to companies and insurers. Read more from TechJuice
Last year, CB Insights revealed the list of the 100 most promising private AI startups in the world. The list covered AI companies offering innovative solutions across 18 industries, including CPG and Retail, from 12 countries, including the US, UK, Canada, Japan, Denmark, Czech Republic, France, Poland, Germany, and South Korea. The top four AI-driven CPG startups that remained the top performers included 1, MSIGHTS, a marketing data transformation and reporting platform. 2, AiFi, an AI solution provider, enabling retailers to become fully autonomous. 3, Syte, a product discovery platform for e-commerce and 4, Vae.ai, a reinforcement learning platform. Read more from CBInsights
Under Unilever’s SKU rationalisation process, the brand has leveraged machine learning and data-driven tool that works on the modules of advanced analytics and provides Unilever with a granular and holistic assessment of its portfolio. The tool divides the data into smaller segments, involving customer, channel, brand, and category and suggests whether to continue manufacturing products. The machine learning tool provides both total and cross-market view of rationalisation opportunities, enabling Unilever to see its top-performing products and guiding where to invest. The technology helps Unilever save additional costs and optimise both e-commerce channels and in-stores. Morgan Vawter, Unilever’s global VP, informs that the tool covers the perspectives of consumers and retailers, helping the company to make better and faster decisions. Read more from ConsumerGoods
India’s Kirana stores, also known as mom & pop shops, are being digitised by international partnerships. Big incumbents like Walmart, Amazon, and Reliance, along with some tech startups (backed up by big investors like Sequoia Capital, Accel, and Tiger Global), are entering into joint ventures with Indian Kirana stores to modernise the traditional store experience. As per the data from Ambit Capital, Kirana stores represent 75% to 78% of total consumer goods sales in India as there are about 12-20 million Kirana stores across the country. Reliance has launched JioMart in collaboration with Jio, to connect customers with Kirana. Via Flipkart, Walmart has entered into the B2B space to supply Kirana stores, while Amazon’s local shops allow retailers to register their Kirana stores on Amazon and sell to customers. Read more from CBInsights
Food supermarket giants like Unilever and Ahold are entering into a joint venture with a retail marketing platform, Perch, to launch a visually interactive end caps lift that can track product engagement via AI and computer vision. This partnership would elevate the in-store experience and drive product conversions in the personal care category. With Perch’s lift-and-learn technology, consumers would be able to know about Unilever’s products by simply lifting the end cap without having to scan a QR code, download an app, or touch a screen. Unilever plans to initially introduce this innovation in its Dove personal care line. Read more from ConsumerGoods
As per the report submitted by Snapchat, social commerce will be touching the heights of the sky within the coming years plus, more and more brands would utilise augmented reality to connect with Gen Z consumers. Snapchat surveyed 16,000 consumers, covering 16 markets, in collaboration with Global Crowd DNA, unfolding that 92% of young buyers want an AR-driven shopping experience. The report claims that Gen Zers prioritise buying a product that they have first experienced using AR compared to the Millennials or Gen X buyers. The majority of the Gen Zers hold that they pay more attention to an ad, featuring AR, while 60% of them affiliate personalisation with AR-driven experience. Read more from Retaildive
Multiple industries use the technologies of artificial intelligence and data to solve issues like supply chain disruptions, climate change, and labour shortages. However, some industrial retailers have taken the digital transformation to the next level by applying these technologies to create exceptional solutions. The ARC Advisory Group has presented its report in which 25 companies are listed for their strategic use of AI and data in various business aspects. Companies that have secured the top ten positions include Tesla, Intel, BMW Group, Johnson and Johnson, 3M, Eli Lilly, Deere and Company, Procter & Gamble, Volkswagen, and Nestlé respectively. Read more from Automationworld
PepsiCo has leveraged its data operations to establish a transparent system, enabling the beverage giant to connect with global consumers systematically. PepsiCo is doing this by attending major events like the Super Bowl Halftime Show and prioritising contextual and psychographic marketing instead of demographic. PepsiCo is utilising the first-party data to better know its customers and deliver relevant content. Along with investing in the foundational capabilities, PepsiCo is supplementing the second and third-party data to drive segmentation, create consumer profiles, and reimagine its media strategies from the consumer’s viewpoint. Read more from Adweek
The Global Corporate R&D V.P and Chief Science Officer of Mars, Maria Velissariou, shared insights related to AI in the U.S. Food and Drug Administration’s TechTalk Podcast. He revealed that the Skittles company utilises AI-driven solutions to ensure the right balance of colours in each packet, giving its consumers the taste of the rainbow. He further elaborated that the company has incorporated AI into more than 250 projects, freeing employees from doing repetitive mundane tasks like sorting skittles. Mars uses an AI-driven model, Mission Control, to perform comparative analysis, analyse performance metrics and generate impossible insights. All these solutions would enable the company to develop higher food safety solutions and produce quality products. Read More from CandyIndustry
Conad Centro Nord has teamed up with Tuidi, a retail tech start-up, to launch a virtual assistant that would help Conad Centro Nord automate its product procurement. The artificial intelligence and machine learning-based model, Delphie, would help Conad Centro Nord’s supermarkets across Italy to monitor and control its promotional line and perishable products. Tuidi’s AI-based solutions would enable Conad Centro Nord to solve the problems related to the perishability of food due to its short expiry period. Read more From Esmmagazine
Hypertaste, the use of artificial intelligence for a taste test, is the future of food and beverage companies. IBM is working with industry giants to use it as a tool for food companies, allowing them to predict different flavours, identify coffee and soft drinks. Hypertaste would relieve experts from doing mundane tasks like repeated taste tests, ensuring quality across numerous batches, and finding counterfeit wines and whiskey. Utilising the AI-driven Hypertaste tool, McCormick & Co. collaborated with IBM and launched eight products. Instead of relying on conventional R&D methods and testing, companies like Conagra Brands, Reddi-wip, and Slim Jim plan to use AI to identify consumer preferences. Plus, Danone and Brightseed aim to find hidden nutrients in soybeans via AI. Read more from Fooddive
An Indian-based retailer company, Reliance Retail, has become a shareholder of 54% in an Indian robotics manufacturing firm, Addverb. Both the parties signed the deal with an amount of $132 million or Rs 983 crores. This joint venture will allow Reliance Retail to leverage its 5G and battery tech via advanced energy solutions provided by Addverb. Plus, Reliance Retail would be able to advance in material sciences like carbon fibre, helping the firm to enable fast and affordable robot delivery. Read more from Indiaretailing
Formaggi Dalla Svizzera, a Swiss cheese producer giant, has rolled out an augmented reality project to promote Swiss cheese, targeting both consumers and retailers. The augmented reality project will be launched in 2,000 stores across Italy, featuring talking postcards of Emmentaler DOP (a Swiss cheese) and digital packaging, displaying the QR codes. To enter into the AR-driven Swiss Valleys, consumers need to scan the QR code through their smartphones and experience a 360° virtual view of the cheese world. In the digital space, consumers can learn about the manufacturing process, production details, and unique recipes of Emmentaler cheese. The brand aims to expand the virtual world by adding categories like sustainability, web gaming, education, and competition by the end of April 2022. Read more from Esmmagazine
Chipotle is pivoting a tortilla-making robot, Chippy, in its innovation hub in Irvine, Calif. Chipotle has collaborated with Miso Robotics, a company that manufactured Flippy, a fast-food robotic arm. Chippy is a modified and customised version of Flippy, optimised to make tortilla chips instead of flipping burgers or frying potatoes like Miso’s Flippy. Chipotle is testing the bot and plans to introduce Chippy to the restaurants in Southern California and later across the global chain. Read more from Thespoon
Diebold Nixdorf, an American multinational financial and retail technology company, has launched its Vynamic® Retail Platform, a cloud-based software solution, innovating the future of retail. The platform is designed on the basis of an API-first software environment, enabling a smooth shopping experience across multiple channels. The platform offers its services to multiple retailers like fashion, grocery, and convenience with an end-to-end management solution. The platform provides retailers a complete suite, including configurable checkout solutions, retail management, loyalty, and compliance surety. Read more from Esmmagazine
Cloud technology has influenced every sector since its launch, that’s the reason why Google Canada launched its Accelerator Program last year in Canada. The second Google Cloud Accelerator Program will start from 1st April, allowing Canadian cloud-based startups to use Google’s programs and products. Plus, startups will be provided with technical support, cloud mentorship, workshops on product design, leadership development, and customer acquisition. To use Google’s experience productively, startups should either strengthen AI, ML, or cloud in their products or develop a strategy to incorporate these innovations in the future. Read more from Itworldcanada
General Mills has given a new shape to its organisational structures by investing in analytical data to leverage its scale and market in North America. The brand is merging its Asian, Latin American, European, and Australian segments into a single reporting unit. General Mills now features four prime segments: North American foodservice, pet, North American retail, and international. With the help of predictive analytics, General Mills’ internal Venture Studio (G Works) is manufacturing alternative cheese line via fermentation. Its external venture capital arm (301 Inc) is investing in a plant-based meat company, Everything Legendary, targeting the vegan Black American community. Both these projects help General Mills achieve three growth-driven opportunities: prioritising consumer personalisation, climate change impact on food, and tech empowered convenience. Read more from Consumergoods
MedCrypt, an American cybersecurity solution provider to the manufacturers of surgical robots, has expanded its client network by offering services to three companies. With MedCrypt’s cybersecurity solutions, these companies would be able to develop secure and safe interoperable system suites. As per the Verified Market Research, the market for the surgical robot will hit a valuation of $22.2 billion by 2028, promoting robotics, visualisation, and AI in minimally invasive surgeries. These advancements require security and protection to safeguard the health of patients and innovative clinical care. MedCrypt’s cybersecurity solution features Heimdall (tracks security vulnerabilities), canary (real-time data recorder), and cryptography (manages and protects cryptographic implementations and data). MedCrypt helps the firm develop strong medical device strategies, including secure development lifecycle (SDLC) processes, regulatory strategy, and business strategy. Read more from Prnewswire
Salesforce revenue and growth for the fourth quarter fiscal increased more than was estimated by analysts. The company’s revenue grew by 26% in the fourth quarter, while for the first quarter the growth ranged from $7.37 billion to $7.38 billion. However, the analysts’ poll carried out by Refinitiv was looking for a $7.26 billion profit. The company issued its updated guidance for the 2023 fiscal year, hitting an estimated revenue of $32 billion to $31.78 billion, while analysts were expecting $31.78 billion in revenue. The firm revealed that the plans involve the integration of products with a business chat app, Slack, which would generate $1.5 billion worth of sales in 2023. Read more from Cnbc
The number of U.S. consumers using mobile payment is expected to grow up to 125.0 million by 2025, which is why consumers demand a more frictionless payment method for e-commerce. Retailers plan to eliminate the friction by offering multiple payment methods, including buy now pay later BNPL service provided by Affirm, Klarna, and AfterPay. As per the report from PayPal and PYMNTS, 41.8% of consumers opt for BNPL due to its interest rates and clear fees as compared to the 11.2% of credit card users. Another way of reducing the friction is to target the false declines that 28% of the consumers experience while checking out, according to Sapio Research and ClearSale study. Read more from Businessinsider
In an effort to promote the release of “Thousand Miles,” the new music video from The Kid Laroi, and Coca-Cola’s “coke summer music” Snap Inc. unveiled an augmented reality experience.
Consumers’ digital preferences continuously evolve with time and brands are responding with technology to improve the online shopping experience for consumers via a recent tech, virtual try-on.
Lyre’s, a non-alcoholic spirit brand, has teamed up with Amazon Alexa to use technology to help consumers make their favourite cocktails.
Procter & Gamble is reimagining its manufacturing to reduce costs, improve productivity and satisfy consumers.
A recent research by SmartLabel reported that 83% of the consumers are interested to know more about a product than what’s presented on a physical label.
The Saudi Arabian and UAE AgTech business, Red Sea Farms, owns a technology that allows commercial farmers to use low energy and zero freshwater for sustainable climate control.
Kraft Heinz listed three major benefits after its historic tech partnership with Microsoft.
As per the research carried out by Gartner, there are five emerging AI trends that executives should take into account to use and leverage AI responsibly.
Digital marketing enables brands to connect with global audiences however, it has a downside to it too which brands should take care of. ParcelLab presented a research report with YouGov after surveying 1,185 US adult online shoppers, showing how certain marketing emails trigger emotional responses. As per the findings, brands are carelessly sending marketing emails to all of their customers without being relevant to customers’ needs or preferences. 49% of the participants claimed to be irreverently marketed, rendering 88% to act against the brand, 42% to unsubscribe from marketing content, 24% to block the brand’s content, and 22% not to buy again from the brand. The report, The Emotional Shopping Experience, also highlighted factors such as environmental initiatives that drive US consumers to shop. Read more from MediaPost
Digital tools, such as connected packaging, have allowed CPG companies to establish a curated connection with their customers. Not only does it enable companies to build brand-to-customer engagement, but also helps them collect valuable data. CPG companies like Campbell soup and Ferrara’s Keebler have deployed QR codes on their cans to give consumers access to specialised content, featuring recipes and music, while the latter connected consumers to an augmented reality experience via QR codes. The Consumer Brands Association and Alliance created a smartLabel, a QR code-empowered food label, which gives consumers access to information about sustainability indicators. Big CPG giants like Coca-Cola, Kellogg, Hershey, Colgate-Palmolive, and Procter & Gamble have featured the digital label in their packaging. Read more from SmartBrief
Women from all around the globe are stepping up and making their mark in the male-dominated business world. Dr. Saira Siddique is one such entrepreneur and solo founder who has raised $1.8 million in pre-seed funding for her health tech venture titled MedIQ. In the funding round, investors from all across the globe participated, including the USA-based Amaana Capital, Seraph Group, TAJDEED, APPNA, Middle East & Pakistan focused – Cordoba Ventures (CorVCF), and leading health tech investors from Silicon Valley. Pakistan’s first integrated B2B virtual care platform, MedIQ, provides a comprehensive network of online pharmacies, online laboratory services, a customisable plug-and-play technology stack, and nursing staff to companies and insurers. Read more from TechJuice
Last year, CB Insights revealed the list of the 100 most promising private AI startups in the world. The list covered AI companies offering innovative solutions across 18 industries, including CPG and Retail, from 12 countries, including the US, UK, Canada, Japan, Denmark, Czech Republic, France, Poland, Germany, and South Korea. The top four AI-driven CPG startups that remained the top performers included 1, MSIGHTS, a marketing data transformation and reporting platform. 2, AiFi, an AI solution provider, enabling retailers to become fully autonomous. 3, Syte, a product discovery platform for e-commerce and 4, Vae.ai, a reinforcement learning platform. Read more from CBInsights
Under Unilever’s SKU rationalisation process, the brand has leveraged machine learning and data-driven tool that works on the modules of advanced analytics and provides Unilever with a granular and holistic assessment of its portfolio. The tool divides the data into smaller segments, involving customer, channel, brand, and category and suggests whether to continue manufacturing products. The machine learning tool provides both total and cross-market view of rationalisation opportunities, enabling Unilever to see its top-performing products and guiding where to invest. The technology helps Unilever save additional costs and optimise both e-commerce channels and in-stores. Morgan Vawter, Unilever’s global VP, informs that the tool covers the perspectives of consumers and retailers, helping the company to make better and faster decisions. Read more from ConsumerGoods
India’s Kirana stores, also known as mom & pop shops, are being digitised by international partnerships. Big incumbents like Walmart, Amazon, and Reliance, along with some tech startups (backed up by big investors like Sequoia Capital, Accel, and Tiger Global), are entering into joint ventures with Indian Kirana stores to modernise the traditional store experience. As per the data from Ambit Capital, Kirana stores represent 75% to 78% of total consumer goods sales in India as there are about 12-20 million Kirana stores across the country. Reliance has launched JioMart in collaboration with Jio, to connect customers with Kirana. Via Flipkart, Walmart has entered into the B2B space to supply Kirana stores, while Amazon’s local shops allow retailers to register their Kirana stores on Amazon and sell to customers. Read more from CBInsights
Food supermarket giants like Unilever and Ahold are entering into a joint venture with a retail marketing platform, Perch, to launch a visually interactive end caps lift that can track product engagement via AI and computer vision. This partnership would elevate the in-store experience and drive product conversions in the personal care category. With Perch’s lift-and-learn technology, consumers would be able to know about Unilever’s products by simply lifting the end cap without having to scan a QR code, download an app, or touch a screen. Unilever plans to initially introduce this innovation in its Dove personal care line. Read more from ConsumerGoods
As per the report submitted by Snapchat, social commerce will be touching the heights of the sky within the coming years plus, more and more brands would utilise augmented reality to connect with Gen Z consumers. Snapchat surveyed 16,000 consumers, covering 16 markets, in collaboration with Global Crowd DNA, unfolding that 92% of young buyers want an AR-driven shopping experience. The report claims that Gen Zers prioritise buying a product that they have first experienced using AR compared to the Millennials or Gen X buyers. The majority of the Gen Zers hold that they pay more attention to an ad, featuring AR, while 60% of them affiliate personalisation with AR-driven experience. Read more from Retaildive
Multiple industries use the technologies of artificial intelligence and data to solve issues like supply chain disruptions, climate change, and labour shortages. However, some industrial retailers have taken the digital transformation to the next level by applying these technologies to create exceptional solutions. The ARC Advisory Group has presented its report in which 25 companies are listed for their strategic use of AI and data in various business aspects. Companies that have secured the top ten positions include Tesla, Intel, BMW Group, Johnson and Johnson, 3M, Eli Lilly, Deere and Company, Procter & Gamble, Volkswagen, and Nestlé respectively. Read more from Automationworld
PepsiCo has leveraged its data operations to establish a transparent system, enabling the beverage giant to connect with global consumers systematically. PepsiCo is doing this by attending major events like the Super Bowl Halftime Show and prioritising contextual and psychographic marketing instead of demographic. PepsiCo is utilising the first-party data to better know its customers and deliver relevant content. Along with investing in the foundational capabilities, PepsiCo is supplementing the second and third-party data to drive segmentation, create consumer profiles, and reimagine its media strategies from the consumer’s viewpoint. Read more from Adweek
The Global Corporate R&D V.P and Chief Science Officer of Mars, Maria Velissariou, shared insights related to AI in the U.S. Food and Drug Administration’s TechTalk Podcast. He revealed that the Skittles company utilises AI-driven solutions to ensure the right balance of colours in each packet, giving its consumers the taste of the rainbow. He further elaborated that the company has incorporated AI into more than 250 projects, freeing employees from doing repetitive mundane tasks like sorting skittles. Mars uses an AI-driven model, Mission Control, to perform comparative analysis, analyse performance metrics and generate impossible insights. All these solutions would enable the company to develop higher food safety solutions and produce quality products. Read More from CandyIndustry
Conad Centro Nord has teamed up with Tuidi, a retail tech start-up, to launch a virtual assistant that would help Conad Centro Nord automate its product procurement. The artificial intelligence and machine learning-based model, Delphie, would help Conad Centro Nord’s supermarkets across Italy to monitor and control its promotional line and perishable products. Tuidi’s AI-based solutions would enable Conad Centro Nord to solve the problems related to the perishability of food due to its short expiry period. Read more From Esmmagazine
Hypertaste, the use of artificial intelligence for a taste test, is the future of food and beverage companies. IBM is working with industry giants to use it as a tool for food companies, allowing them to predict different flavours, identify coffee and soft drinks. Hypertaste would relieve experts from doing mundane tasks like repeated taste tests, ensuring quality across numerous batches, and finding counterfeit wines and whiskey. Utilising the AI-driven Hypertaste tool, McCormick & Co. collaborated with IBM and launched eight products. Instead of relying on conventional R&D methods and testing, companies like Conagra Brands, Reddi-wip, and Slim Jim plan to use AI to identify consumer preferences. Plus, Danone and Brightseed aim to find hidden nutrients in soybeans via AI. Read more from Fooddive
An Indian-based retailer company, Reliance Retail, has become a shareholder of 54% in an Indian robotics manufacturing firm, Addverb. Both the parties signed the deal with an amount of $132 million or Rs 983 crores. This joint venture will allow Reliance Retail to leverage its 5G and battery tech via advanced energy solutions provided by Addverb. Plus, Reliance Retail would be able to advance in material sciences like carbon fibre, helping the firm to enable fast and affordable robot delivery. Read more from Indiaretailing
Formaggi Dalla Svizzera, a Swiss cheese producer giant, has rolled out an augmented reality project to promote Swiss cheese, targeting both consumers and retailers. The augmented reality project will be launched in 2,000 stores across Italy, featuring talking postcards of Emmentaler DOP (a Swiss cheese) and digital packaging, displaying the QR codes. To enter into the AR-driven Swiss Valleys, consumers need to scan the QR code through their smartphones and experience a 360° virtual view of the cheese world. In the digital space, consumers can learn about the manufacturing process, production details, and unique recipes of Emmentaler cheese. The brand aims to expand the virtual world by adding categories like sustainability, web gaming, education, and competition by the end of April 2022. Read more from Esmmagazine
Chipotle is pivoting a tortilla-making robot, Chippy, in its innovation hub in Irvine, Calif. Chipotle has collaborated with Miso Robotics, a company that manufactured Flippy, a fast-food robotic arm. Chippy is a modified and customised version of Flippy, optimised to make tortilla chips instead of flipping burgers or frying potatoes like Miso’s Flippy. Chipotle is testing the bot and plans to introduce Chippy to the restaurants in Southern California and later across the global chain. Read more from Thespoon
Diebold Nixdorf, an American multinational financial and retail technology company, has launched its Vynamic® Retail Platform, a cloud-based software solution, innovating the future of retail. The platform is designed on the basis of an API-first software environment, enabling a smooth shopping experience across multiple channels. The platform offers its services to multiple retailers like fashion, grocery, and convenience with an end-to-end management solution. The platform provides retailers a complete suite, including configurable checkout solutions, retail management, loyalty, and compliance surety. Read more from Esmmagazine
Cloud technology has influenced every sector since its launch, that’s the reason why Google Canada launched its Accelerator Program last year in Canada. The second Google Cloud Accelerator Program will start from 1st April, allowing Canadian cloud-based startups to use Google’s programs and products. Plus, startups will be provided with technical support, cloud mentorship, workshops on product design, leadership development, and customer acquisition. To use Google’s experience productively, startups should either strengthen AI, ML, or cloud in their products or develop a strategy to incorporate these innovations in the future. Read more from Itworldcanada
General Mills has given a new shape to its organisational structures by investing in analytical data to leverage its scale and market in North America. The brand is merging its Asian, Latin American, European, and Australian segments into a single reporting unit. General Mills now features four prime segments: North American foodservice, pet, North American retail, and international. With the help of predictive analytics, General Mills’ internal Venture Studio (G Works) is manufacturing alternative cheese line via fermentation. Its external venture capital arm (301 Inc) is investing in a plant-based meat company, Everything Legendary, targeting the vegan Black American community. Both these projects help General Mills achieve three growth-driven opportunities: prioritising consumer personalisation, climate change impact on food, and tech empowered convenience. Read more from Consumergoods
MedCrypt, an American cybersecurity solution provider to the manufacturers of surgical robots, has expanded its client network by offering services to three companies. With MedCrypt’s cybersecurity solutions, these companies would be able to develop secure and safe interoperable system suites. As per the Verified Market Research, the market for the surgical robot will hit a valuation of $22.2 billion by 2028, promoting robotics, visualisation, and AI in minimally invasive surgeries. These advancements require security and protection to safeguard the health of patients and innovative clinical care. MedCrypt’s cybersecurity solution features Heimdall (tracks security vulnerabilities), canary (real-time data recorder), and cryptography (manages and protects cryptographic implementations and data). MedCrypt helps the firm develop strong medical device strategies, including secure development lifecycle (SDLC) processes, regulatory strategy, and business strategy. Read more from Prnewswire
Salesforce revenue and growth for the fourth quarter fiscal increased more than was estimated by analysts. The company’s revenue grew by 26% in the fourth quarter, while for the first quarter the growth ranged from $7.37 billion to $7.38 billion. However, the analysts’ poll carried out by Refinitiv was looking for a $7.26 billion profit. The company issued its updated guidance for the 2023 fiscal year, hitting an estimated revenue of $32 billion to $31.78 billion, while analysts were expecting $31.78 billion in revenue. The firm revealed that the plans involve the integration of products with a business chat app, Slack, which would generate $1.5 billion worth of sales in 2023. Read more from Cnbc
The number of U.S. consumers using mobile payment is expected to grow up to 125.0 million by 2025, which is why consumers demand a more frictionless payment method for e-commerce. Retailers plan to eliminate the friction by offering multiple payment methods, including buy now pay later BNPL service provided by Affirm, Klarna, and AfterPay. As per the report from PayPal and PYMNTS, 41.8% of consumers opt for BNPL due to its interest rates and clear fees as compared to the 11.2% of credit card users. Another way of reducing the friction is to target the false declines that 28% of the consumers experience while checking out, according to Sapio Research and ClearSale study. Read more from Businessinsider
Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.
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