Givaudan has developed Consumer Foresight, a new tool that aims to help its customers co-create and innovate. This ‘futurescaping’ platform will leverage big data, artificial intelligence and Givaudan’s ‘deep expertise’ of the food and beverage sector. It is a step beyond the trend forecasting models of today, Taste & Wellbeing President Louie D’Amico believes.
“Most trend forecasting models largely focus on understanding the past and the present. Customer Foresight will be more predictive, with an ability to create potential future scenarios of what should be possible tomorrow to shape the future of food,” he told FoodNavigator. “Customer Foresight can help anticipate tomorrow’s challenges and untangle the future of consumer expectations.”
How will this be achieved?
“Customer Foresight is focused on discovering early signs for our customers, that neither they nor their consumers are aware of, nor may have fully articulated. Given the power of the AI technologies used, combined with the expansiveness of the data that will feed Customer Foresight and the depth of expertise of our internal teams, the platform will be equipped to help guide customers in a wide range of development needs from broad market shifts to specific ingredients in particular product applications,” D’Amico explained.
Combining data and expertise
At the heart of Customer Foresight is a proprietary digital engine that supports Givaudan’s experts in their future-gazing efforts. The flavours specialist said that the group is looking at a horizon of ‘up to a few years ahead’ as it predicts future customer and consumer needs.
This combination of data points, AI and human expertise is at the heart of Givaudan’s innovation.
“Customer Foresight will take into account multiple sources of data – proprietary Givaudan data, and data from outside partners who are very carefully selected. It will also enable cross analyses of different data sources to generate future scenarios of what should be possible tomorrow,” we were told.
But while data is important, the human element of this foresight tool is critical.
“The depth of expertise of our internal teams is key to this unique combination,” D’Amico elaborated.
“Human experience is at the heart of our company purpose – as is nature – so people will always feature front and centre in our co-creation journey with customers. Our futurescaping experts will help to interpret results face to face with customers, offer in-depth knowledge and experience of the food and beverage ecosystem, and further ensure that customers receive scenarios and concepts that are highly relevant to them and their consumers.”
Navigating change in a turbulent world
This crystal ball into the future of food will help the food and beverage industry manage the ‘profound disruption’ it faces, driven by rapidly changing consumer and customer needs.
From enabling the movement to more mindful and planet-friendly diets, to providing more nutritious food choices and helping consumers achieve their wellbeing goals, Givaudan suggested the industry must ‘think differently’ to address transformative shifts.
Givaudan’s Customer Foresight is currently being piloted in two test markets ahead of its launch in 2023.
“We are currently running pilots on real business cases in Latin America and South Asia, Africa, Middle East (SAMEA) that are being used to prove Customer Foresight’s tangible business outcome. These are fast-changing markets where development time is often very short, making foresight highly valuable,” D’Amico elaborated.
“While it is still too early to provide specific examples, we’re really encouraged and excited by the direction and results. As we progress, we expect to explore anything from broad market shifts to specific ingredients in particular product applications. Customer Foresight will assist brand creation in an entirely new and unique way.”