27.09.2021 Views

Food & Beverage Asia October/November 2021

Food & Beverage Asia (FBA) is the leading source of food and beverage news in Asia since 2002. FBA delivers a comprehensive view of the food and beverage landscape, spanning across the latest health and nutrition trends and industry innovations in ingredients, recipe formulations, food science, sustainability, packaging, and automation, as well as advancements in agri and food-tech.

Food & Beverage Asia (FBA) is the leading source of food and beverage news in Asia since 2002. FBA delivers a comprehensive view of the food and beverage landscape, spanning across the latest health and nutrition trends and industry innovations in ingredients, recipe formulations, food science, sustainability, packaging, and automation, as well as advancements in agri and food-tech.

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

ON THE TABLE 41<br />

Digitalising the food<br />

and beverage industry:<br />

What does it take?<br />

The food and beverage industry is no stranger to digitalisation, yet many<br />

companies remain slow to its transformative impact. Giving light on this matter,<br />

Mike Walsh shares his thoughts on digital transformation and disruptive<br />

innovation in this new era of machine intelligence in food and beverage sector.<br />

To remain relevant, firms must<br />

continue to be vigilant and abreast<br />

with the latest developments in<br />

technology, embracing digitalisation<br />

not merely as a necessity but as<br />

a means to an integrated end.<br />

This implies not only the adoption<br />

of data – it is also what one does<br />

with it, how it is applied to facilitate<br />

operations within the company.<br />

Mike Walsh, chief executive officer<br />

of Tomorrow, a global consultancy<br />

on designing companies for the 21 st<br />

century, said: “One of the biggest<br />

dangers when imagining the future<br />

of any industry is mistaking digital<br />

incrementalism for true digital<br />

transformation. More AI, algorithms<br />

and automation will certainly lead<br />

to greater efficiency, speed and cost<br />

savings — but that misses the bigger<br />

point. The real question is not how<br />

operations in the food & beverage<br />

industry can be marginally improved,<br />

but rather — what is possible in an<br />

age of machine intelligence that<br />

was not conceivable before?<br />

radical transparency of the<br />

provenance, safety and quality<br />

from farm to fork. Think of it this<br />

way: in a digitalised future, you no<br />

longer sell or distribute food and<br />

beverages — you trade in information<br />

about food and beverages.”<br />

REIMAGINING<br />

DIGITALISATION<br />

Nevertheless, despite the allure<br />

of data and digitalisation, many<br />

companies are slow to its uptake,<br />

specifically the food and beverage<br />

industry. This could be attributed to<br />

a few factors, such as digitalisation<br />

costs, and the simple fact that<br />

some older equipment cannot<br />

be retrofitted – for some<br />

companies, the overhaul of<br />

current, analogue operations<br />

to a digitalised one is no<br />

easy feat. Furthermore, there<br />

could be resistance toward<br />

digital changes within a more<br />

traditional business framework,<br />

stemming from the fear of the<br />

loss of the human touch.<br />

"In a re-conceptualised, AI-powered<br />

F&B ecosystem, everything<br />

potentially changes: products<br />

become personalised to markets<br />

of one, supply chains become<br />

more dynamic and resilient to<br />

sudden shocks, and you gain<br />

“Rather than replacing jobs, greater<br />

automation will lead to a reimagining<br />

of many roles in organisations.<br />

As we start gathering increasing<br />

amounts of data, we will become<br />

more reliant on AI-powered tools to<br />

find opportunities to commercialise

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!