The food and nutrition industry is experiencing a seismic shift, largely due to advancements in artificial intelligence (AI). At the recent Institute of Food Technologists (IFT) FIRST 2024 Expo in Chicago, industry leaders shared groundbreaking insights on how AI is revolutionising the food innovation landscape. Here’s a breakdown of what these developments mean for B2B marketers and the learnings they can leverage in their own marketing strategies.
Whipping up faster, tastier, healthier innovations with AI
AI’s influence on the food industry is undeniable, particularly its potential to significantly speed up the product development process. At the IFT FIRST 2024 Expo, Dr. Nora Khaldi, CEO of biotech company Nuritas, highlighted that AI enables companies to now develop new products and secure FDA approvals in just two years – a stark reduction from the typical 10-year timeline. This accelerated pace of development is crucial for businesses in the food and nutrition industry, as it allows for quicker market entry and the ability to stay ahead of and even influence consumer trends.
AI accelerates product development through:
- Data analysis and ingredient discovery: AI rapidly analyses vast amounts of data on ingredient properties, interactions and health effects. This enables the discovery of promising ingredient combinations and the creation of products that meet consumer demands for taste, health and sustainability.
- Simulation and predictive Analytics: AI-driven simulations reduce the need for physical experiments by predicting formulation outcomes. This not only saves time and resources but also minimises the risk of product failures in the market.
- Consumer preference analysis: AI analyses consumer data to predict preferences and trends, helping companies tailor their products to meet specific and evolving market needs. This approach ensures that products are well-received and quickly adopted by consumers.
- Generative AI for ideation: Generative AI goes one step further to create new product concepts, flavour combinations and formulations by learning from vast datasets of existing products and consumer preferences. This technology offers novel ideas that human developers might overlook, opening up new possibilities for product innovation.
How B2B marketers can take a bite out of the AI pie
So the question remains: How can B2B marketers in the food and nutrition industry apply these insights to their own strategies? And how does AI’s power translate into effective marketing?
The data input may differ but the desired outcomes remain the same. By leveraging AI’s predictive capabilities, marketers can anticipate market shifts and respond proactively, ensuring that their products and services always align with consumer – and client – needs. AI can offer up the insights marketers need to experiment and ultimately create more impactful and targeted campaigns, enhance customer experiences and engage in stronger partnerships. In a word, the principles of AI in food innovation apply to both product development and marketing.
But before getting started (or too excited), there are a few considerations to bear in mind:
- Aligning insights with KPIs: Data analysis should be directly tied to key performance indicators, ensuring that the insights generated align with the company’s business objectives.
- Data quality management: Regular and thorough data cleansing is essential to maintain the quality of insights. This prevents errors in analysis and ensures accurate decision-making.
- Continuous learning and adaptation: AI implementation should be viewed as an ongoing process. Marketers must continuously refine their strategies based on new data and insights to stay relevant and competitive.
- Integration of human expertise: While AI can process vast amounts of data, the interpretation of results benefits from human expertise. Combining AI’s analytical capabilities with human creativity and industry knowledge leads to more effective and innovative marketing strategies.
The future of food marketing in an AI-driven world
So the data is downloaded, the insights are analysed, the strategy is reshaped – what’s next? As AI continues to transform the food and nutrition industry, B2B marketers must adapt their strategies to remain competitive. And optimising the client experience will be front and centre of priorities.
Here are some ways to use AI for continued marketing success:
- AI-powered marketing tools: Investing in AI-driven marketing tools can help personalise client experiences, predict market trends and improve customer engagement.
- Thought leadership and education: Collaborating with AI experts to develop thought leadership content can position a brand as an innovator in the industry. Educating clients about the benefits of AI-driven innovation can help build trust and credibility.
- Interactive experiences and custom solutions: Creating AI-driven interactive experiences allows clients to explore product possibilities and customise solutions to their needs. This enhances client engagement and drives sales.
A taste of what’s to come for AI in food innovation
AI is on an upwards trajectory – and it shows no signs of slowing. The signs all point to AI soon becoming a necessity rather than a luxury for B2B marketers. With AI’s ability to process complex data and generate precise insights, marketers can craft targeted campaigns, improve customer engagement and enhance product offerings. As we move into this new era of digital transformation, those who adapt and integrate AI-driven strategies are certain to set themselves apart, unlocking new opportunities for growth and innovation. As B2B marketers navigate this landscape, it is important to remember that AI is a tool to enhance, not replace, the human element that remains at the heart of successful marketing.
About the author
Sara Houghton, Consultant at BDB
Specialising in integrated campaigns within the food and nutrition sector, Sara combines her expertise in PR, events and digital marketing to deliver impactful B2B strategies for our clients.