Artificial intelligence will follow the grocery store soon. Wasteless has decided to tackle the problem of unnecessary products using machine learning.
The abundance of goods in modern grocery stores has a downside that many do not know or think about. In this country, the USDA estimates that 30-40% of the food released to the market ends up in landfills. And there they become one of the main reasons for the increase in the level of greenhouse gases on our planet.
Wasteless has developed an AI-powered system to automatically lower the prices of perishable goods on store shelves. The closer the expiration date of a particular product is, the lower its price will be.
Wasteless has been working on its software since 2016 and is ready to try it out in Metro stores. The system will initially appear at Metro Makro in Poland and then expand to other markets.
According to Wasteless, its system will reduce the amount of waste in grocery stores by at least 40%, and in the next few years the company expects to increase this figure to 80%.
Of course, the system of price reduction depending on the expiration date can be based on the simplest algorithms without any AI. But Wasteless offers a more flexible tool. In particular, the system analyzes, among other things, the change in demand for a particular product with certain discounts. Thus, AI can allow not to reduce the price to the lowest possible if it sees that the demand for the product has grown so well after the first round of discounts.
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