increase font size
Report co-author, US-based RaboResearch senior analyst Thomas Bailey.
Could smaller foodservice operators take advantage of the benefits of artificial intelligence (AI)?
A new report from Rabobank suggests exactly that.
In its Foodservice Update for the first quarter of 2024, the bank states AI is becoming more accessible to foodservice operators of all shapes and sizes, with software-as-a-service (SaaS) providers and an increased availability of data are facilitating this shift.
“Data is the essential raw material for AI, but until recently, the foodservice industry lagged behind other sectors in terms of digitalization,” the report reads.
Yet, since 2020, consumers have shifted towards digital channels for both information and transactions.
“Companies that have digitalized their contact with consumers through kiosks and loyalty apps… now possess proprietary data, as do delivery platforms,” it states.
Report co-author, US-based RaboResearch senior analyst Thomas Bailey says current AI applications in foodservice are primarily focused on increasing efficiency, reducing staff workload, optimising marketing strategies, and improving customer experience
“Customer interactions are also being transformed through AI, with highly performing chatbots and telephone assistance software improving the customer experience and operational efficiency,” Bailey says.
“AI software can be used to improve text and images, personalise customer interaction, understand brand perception, and implement more focused pricing strategies,” he says.
However, Bailey is quick to point out that AI is a “work in progress” and “far from perfect”.
“The adoption of AI also carries potential risks, including customer alienation and technology-related issues,” he says.
The report points out that it is a necessity to define the purpose of incorporating AI and its subsequent actions.
Chinese beef trade quotas and a looming suspension of Brazilian beef imports into the European Union are expected to reshape global beef trade flows over the remainder of 2026, with implications for New Zealand exporters, according to Rabobank's Q3 Global Beef Quarterly report.
New Zealand consumers are paying more for beef mince than ever before, with the average retail price now sitting above $24 per kilogram, according to Rabobank.
West Otago dairy farmer Luke Kane has been awarded the 2026 Rabobank Dr John Morris Business Development Prize.
Twenty five secondary school students from around New Zealand recently completed a three day residential programme designed to explore career opportunities across the food and fibre production supply chain.
The Parliamentary Commissioner for the Environment, Simon Upton, wants environmental information to be treated as critical national infrastructure.
Chinese beef trade quotas and a looming suspension of Brazilian beef imports into the European Union are expected to reshape global beef trade flows over the remainder of 2026, with implications for New Zealand exporters, according to Rabobank's Q3 Global Beef Quarterly report.
James Blair, an agronomist for AS Wilcox and the Pukekohe regional champion, has won the 2026 Young Grower national title.
An Auckland gelato shop and an established New Zealand ice cream maker have both been named Supreme Champions at the NZ Ice Cream & Gelato Awards 2026.
As the cost-of-living crisis continues to put pressure on household grocery budgets, new figures show pork remains one of the most affordable fresh meat options for New Zealand families.
OPINION: In politics, credibility is and should be big. It must surely rank higher than charisma, which is quite trite and superficial. Yet, voters nowadays are often wooed and influenced by how someone looks or talks at a superficial level. TV plays a huge role in this.
Farmers can spend less time on paperwork, thanks to a new data sharing agreement between DairyNZ’s DairyBase and LIC’s MINDA software.
OPINION: After hogging the media limelight for telling a NZ Chinese MP to "go back home", Winston Peters has decided…
OPINION: With fuel prices soaring, one would have expected most farmers to be reclaiming excise duty on petrol.
